Answer:
Step-by-step explanation:
Given : Let f(n) represent the total annual cost of renting n video games.
A video game club charges a fixed annual membership fee of $20 and $2 per video game rented.
Then the total annual cost is given by :-
If the membership was increased by $15 the next year , then the total cost in next years will be :-
Hence, the function best represents the relationship between f(n) and n if the membership was increased by $15 the next year :
Answer:
a)
b) The balance after 8 years will be of $29,069.
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.
a)
Loan of $17,500 means that
6.4% interest rate means that
Compounded monthly means that . So
b)
This is A(8). Then
The balance after 8 years will be of $29,069.