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user100 [1]
3 years ago
7

A bank charges a fee of 0.5% per month for having a checking account. Stephani’s account has $325 in it. Which function models t

he balance of Stephani’s account, B(t), in dollars, as a function of time, t, in months?
a: B(t) = 325(0.0995)t

b: B(t) = 325(0.005)t

c: B(t) = 0.05(325)t

d: B(t) = 325 + 12(0.005)t
Mathematics
1 answer:
Alex_Xolod [135]3 years ago
5 0

Answer:

f(t) = 325(0.995)^t

Step-by-step explanation:

Given

r= 0.5\% ---- Charges

a= \$325 --- Amount

Required

Represent the balance as a function

This is calculated using exponential function.

f(t) = ab^t

Where

b = 1 - r

So, we have:

b = 1 - 0.5\%

b = 1 - 0.005

b = 0.995

So:

f(t) = ab^t

f(t) = 325 * 0.995^t

f(t) = 325(0.995)^t

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