Mathematics
01.12.2022 08:48
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What is the annual compound interest rate for an investment account modeled by the
What is the annual compound interest rate for an investment account modeled by the function
y = 12 * 1.14t?
a.
0.14%
c.
14%
b.
12%
d.
114%
Show Answers
y = 12 * 1.14t?
a.
0.14%
c.
14%
b.
12%
d.
114%
holman6884
5,0(97 marks)
C. 14%
Step-by-step explanation:
We are given the function modeling the investment account as,
It is required to find the annual interest rate for the investment.
On simplifying the function, we have,
โ 
As, the general form for the compound interest is 
, where r is the interest rate.
On comparing we get,
The interest rate for the model is 0.14 i.e. 14%
Hence, option C i.e. 14% is correct.
drubio102004
4,9(6 marks)
The answer is 65%
Step-by-step explanation:
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