SOLUTION: Time(y) 0 1 2 3 4 5
Balance($) 5000 5600 6272 7025 7868 8812
Write an equation to represent this relation, is it linear or not explain.
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Question 1105763: Time(y) 0 1 2 3 4 5
Balance($) 5000 5600 6272 7025 7868 8812
Write an equation to represent this relation, is it linear or not explain.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
it is not linear. If it were, the change from 0 to 1 (+600) would be the same for every single year, and it increases to (+672) for the second year and (+944) for the fifth year.
This is compound interest and the initial increase of 600 in one year is 600/5000 or 0.12 increase.
y=5000(1.12)^n, where n is between 0 and 5
when n=0, y=5000
exponential equation.
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