Mathematics, 02.12.2020 19:40 wirchakethan23
The function, y=1000(1.005)^x, models the value of $1000 deposited at an interest rate of 6% per year, 0.005 per month, x months after the money is deposited.
a. Graph the function on your graphing calculator to predict how many months it will be until the account is worth $1,100.
b. Predict how many years it will be until the account is worth $5,000.
Answers: 1
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The function, y=1000(1.005)^x, models the value of $1000 deposited at an interest rate of 6% per yea...
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