$850 is invested in an account earning 8.8% interest (APR), compounded monthly. Write a function showing the value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent. Function: f(t) = Growth v % increase per year Submit Answer attempt 4 out of 10

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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$850 is invested in an account earning 8.8% interest (APR), compounded monthly. Write a function showing the value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent.
$850 is invested in an account earning 8.8% interest (APR), compounded monthly.
Write a function showing the value of the account after t years, where the annual
growth rate can be found from a constant in the function. Round all coefficients in
the function to four decimal places. Also, determine the percentage of growth per
year (APY), to the nearest hundredth of a percent.
Function: f(t)
Growth v
% increase per year
Submit Answer
attempt 4 out of 10
Transcribed Image Text:$850 is invested in an account earning 8.8% interest (APR), compounded monthly. Write a function showing the value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (APY), to the nearest hundredth of a percent. Function: f(t) Growth v % increase per year Submit Answer attempt 4 out of 10
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