SOLUTION: For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, , let r = 8%, P = 1, and n = 1 and giv
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Question 86451: For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, , let r = 8%, P = 1, and n = 1 and give the coordinates (t,A) for the points where t = 0, 1, 2, 3, 4. Round your answer to the hundredth's place.
a) Show coordinates in this space.
Show work in this space.
b) Show graph here.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, , let r = 8%, P = 1, and n = 1 and give the coordinates (t,A) for the points where t = 0, 1, 2, 3, 4. Round your answer to the hundredth's place.
a) Show coordinates in this space.
A(t) = P(1+r/n)^(nt)
Your Problem:
A(t) = 1*(1+0.08/1)^(1*t
A(t) = (1.08)^t
(0,1),(1,1.08),(2,1.08^2) etc.
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b) Show graph here.
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Cheers,
Stan H.
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