Find IJ. A. 17 B. 10.5 C. 10 D. 13
2 answers:
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Answer:
The exponential function is .
You will have $1,100.55 in the account after 2 years.
Step-by-step explanation:
Compound interest:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Deposit $1000 in a savings account that pays 4.8% interest compounded monthly.
This means that . So
This is the exponential function
How much will you have in your account after 2 years?
This is A(2). So
You will have $1,100.55 in the account after 2 years.
Step-by-step explanation:
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<u>ANSWER</u>
The point lies on the straight line
<u>EXPLANATION</u>
The given line is . It can be observed that the given straight line is in the point-slope form.
We can rewrite the equation in the point-slope form to obtain,
.
When we compare this to the general point-slope form, which given by the formula;
,
We can observe that,
and
.
Hence the point, lies on