Work out the following: Share 30 in the ratio 1:9
1 answer:
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Answer:
$3098.93
Step-by-step explanation:
We can use the formula for compound growth to solve this. The formula is:
Where
F is the future value (the value at end of 14 years, our answer)
P is the initial amount invested ($1250)
r is the interest rate, in decimal (6.7% is 0.067)
t is the time in years (14, in our case)
<em>Plugging in all the information</em> we have:
The account will accrue $3098.93 after 14 years.
If the first function is
.. h(x) = 2^x
it will be the one that grows the fastest. The exponential function with the largest base value will grow faster than any polynomial.
.. h(x) = 2^x
it will be the one that grows the fastest. The exponential function with the largest base value will grow faster than any polynomial.