The function h(x) = 5000 multiplied by (1.08)^x represents a loan taken out by a college student. x represents time in years. Is

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2 years ago

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the cost of the loan increasing or decreasing as time goes on and by what percentage per year does it do so?

1 answer:

ZanzabumX [31] · Answer 1 · 2023-07-04T20:53:02+03:00

The cost of the loan is increasing as time goes by.

<h3>Exponential function</h3>

The standard exponential function is expressed as:

y = ab^x

b is the rate of the function

The value of b depends on the increase or decrease in the rate

Since the value of b in the function 5000(1.08)^x is greater than 1, hence the the cost of the loan is increasing as time goes by.

Learn more on expoenential function here: brainly.com/question/12940982