Suppose that someone deposits $2000 in an account that earns 4.0% simple interest. Complete parts (a) and (b) below. a. Express the future value in the account as a linear function of time, t. A= (Do not factor.) b. Determine the slope of the function in part (a) and describe what this means. Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice. (Type integers or decimals.) O A. The slope of the function is The rate of change of the present value per year is $ OB. The slope of the function is The rate of change of the future value per month is $
Suppose that someone deposits $2000 in an account that earns 4.0% simple interest. Complete parts (a) and (b) below. a. Express the future value in the account as a linear function of time, t. A= (Do not factor.) b. Determine the slope of the function in part (a) and describe what this means. Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice. (Type integers or decimals.) O A. The slope of the function is The rate of change of the present value per year is $ OB. The slope of the function is The rate of change of the future value per month is $
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.4: Functions Given By Words
Problem 13E
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Transcribed Image Text:Suppose that someone deposits $2000 in an account that earns 4.0% simple interest. Complete parts (a) and (b) below.
a. Express the future value in the account as a linear function of time, t.
A =
(Do not factor.)
b. Determine the slope of the function in part (a) and describe what this means. Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice.
(Type integers or decimals.)
O A. The slope of the function is
The rate of change of the present value per year is $
B. The slope of the function is
The rate of change of the future value per month is $
C. The slope of the function is
The rate of change of the future value per year is $
O D. The slope of the function is
The rate of change of the present value per month is $
Transcribed Image Text:Use the percent formula, A = PB: A is P percent of B, to answer the following question. 3 is 60% of what?
3 is 60% of
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