Answer:
Option A (0,a)
Step-by-step explanation:
we know that
Is a exponential function
where
a is the initial value
b is the base
Remember that
The initial value is the value of the function when the value of x is equal to zero (y-intercept)
therefore
For x=0
The y-intercept is the point (0,a)
Answer:
The rate of return is 8%.
Step-by-step explanation:
The time span from 1794 to 2018 is (2018 - 1794) = 224 years.
Now, a penny i.e. 0.01 pounds of money as a principal gets the final sum of 345000 pounds after 224 years.
Here we have to calculate the rate of return if the interest is compounded yearly.
Using the formula of compound interest of r% APR, we get
⇒ 1 + 0.01r = 1.08
⇒ 0.01r = 0.08
⇒ r = 8% (Answer)