Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
A Savings Account You initially invested
a. Write a formula for an exponential function giving the balance in your account as a function of the time since your initial investment.
b. What monthly interest rate best represents this account? Round your answer to three decimal places.
c. Calculate the decade growth factor.
d. Use the formula you found in part
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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