Which of the following exponential functions goes through the points (1, 20) and (2, 80)?

If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:

$CI = P(1 +\dfrac{R}{100})^T - P$

The final amount becomes:

$A = CI + P\\A = P(1 +\dfrac{R}{100})^T$

For the considered case, we're given that:

Initial amount Laura deposited = $5,500 = P
Type of interest: Compound interest
Unit of time: Annually
Rate of interest = 1.6% annually = R
Total unit of time for which amount is to be calculated: 4 years = T

The final amount at the end of 4 years in the considered account of Laura is evaluated as:

$A = 5500(1 + \dfrac{1.6}{100})^4 = 5500(1.016)^4 \approx 5860.53 \: \rm (in \: dollars)$

Thus, he amount that is the closest to the account balance at the end of 4 years is given by: Option B: $5,860. 53 (approx)

Learn more about compound interest here:

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5 0

2 years ago

The image of a parabolic mirror is sketched on a graph. The image can be represented using the function y = x2 + 2, where x repr

Nadusha1986 [10]

Answer:

The image can be represented using the function y = x2 + 2, where x represents the horizontal distance from the maximum depth of the mirror and y represents the depth of the mirror as measured from the x-axis. How far ...

Step-by-step explanation:

The image can be represented using the function y = x2 + 2, where x represents the horizontal distance from the maximum depth of the mirror and y represents the depth of the mirror as measured from the x-axis. How far ...

3 0

3 years ago