None of the offered choices is correct.
f(3) = 0.02·2³ = 0.02·8 = 0.16
f(8) = 0.02·2⁸ = 0.02·256 = 5.12
Then the average rate of change is
... (f(8) - f(3))/(8 - 3) = (5.12 -0.16)/5 = 4.96/5 = 0.992
How can I solve this?
1 answer:
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Answer:
$172,984.44
Step-by-step explanation:
We can use the formula
to compute the final amount
Here P is the principal amount, the original deposit = $25,000
r is the annual interest rate = 6.5% = 0.065 in decimal
n is the number of times the compounding takes place. Here it is quarterly so it is 4 times a year
t is the number of time periods ie 30 years
A is the accrued amount ie principal + interest
Computing different components,
Therefore