Question

What type of function can be used to model the scenario?

Answer 1

Answer:

1. Exponential

2. Linear

Step-by-step explanation:

1. Exponential

Principal = 15000

Rate, r = 6.5% compounded annually

A = P(1 + r)^t

A = 15000(1 + 0.065)^t

A = 15000(1.065)^t

2. Linear

Let initial amount in bank = x

Amount added per week = 2

Number of weeks or period = t

A = x + 2t