Write à function, s(t), to represent the simple interest account and a function, c(t), to represent the compound interest account.

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Author:Erwin Kreyszig
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I don't understand how to write compound interest as a function. I've highlighted the parts of the question I need help with, I included the whole page because it has the data. 

Calculating Interest with Linear
and Exponential Functions
АCTIVITY
2.1
Let's consider which function type represents each situation.
Recall that in a simple
Sanjay's family deposited $20,000 in an interest bearing account for his
college fund. Sanjay's account earns simple interest each year.
interest account, a
percent of the starting
Chikonde's family deposited $20,000 in an interest bearing account for
her college fund that earns compound interest each year.
balance is added to
the account at each
interval. The formula
for simple interest
is / = Prt, where
Simple Interest Balance
(dollars)
Compound Interest Balance
(dollars)
Time
(years)
P represents the
starting amount, or
principal, r represents
20,000
20,000
1
20,800
20,800
the interest rate,
t represents time,
and / represents the
interest earned. In a
2
21,600
21,632
3
22,400
22,497.28
compound interest
10
28,000
29,604.89
account, the balance
is multiplied by the
same amount at
1. Study the table of values.
each interval.
a. Sketch a graph of each account balance in dollars as a
function of the time in years.
Simple Interest Balance
Compound Interest Balance
30K
30K
29
29
28
28
27
27
26
26
25K
25
24
24
23
23
L2
22
20 K
I 2345678910
Yrs
12345618910 í
b. Write à function, s(t), to represent the simple interest
account and a function, c(t), to represent the compound
interest account.
St)= 800t + 20000
Clt)=
LESSON 2: Turn That Frown Upside Down
M3-109
© Carnegie Learning, Inc.
Gomow
Transcribed Image Text:Calculating Interest with Linear and Exponential Functions АCTIVITY 2.1 Let's consider which function type represents each situation. Recall that in a simple Sanjay's family deposited $20,000 in an interest bearing account for his college fund. Sanjay's account earns simple interest each year. interest account, a percent of the starting Chikonde's family deposited $20,000 in an interest bearing account for her college fund that earns compound interest each year. balance is added to the account at each interval. The formula for simple interest is / = Prt, where Simple Interest Balance (dollars) Compound Interest Balance (dollars) Time (years) P represents the starting amount, or principal, r represents 20,000 20,000 1 20,800 20,800 the interest rate, t represents time, and / represents the interest earned. In a 2 21,600 21,632 3 22,400 22,497.28 compound interest 10 28,000 29,604.89 account, the balance is multiplied by the same amount at 1. Study the table of values. each interval. a. Sketch a graph of each account balance in dollars as a function of the time in years. Simple Interest Balance Compound Interest Balance 30K 30K 29 29 28 28 27 27 26 26 25K 25 24 24 23 23 L2 22 20 K I 2345678910 Yrs 12345618910 í b. Write à function, s(t), to represent the simple interest account and a function, c(t), to represent the compound interest account. St)= 800t + 20000 Clt)= LESSON 2: Turn That Frown Upside Down M3-109 © Carnegie Learning, Inc. Gomow
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