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Question 1179867: Topic: Financial Mathematics
Is my answer correct? I want to check my answer.
A park started with 12 oak trees, and the number of oak trees increased at a rate of 25% each year. Write the function that models the situation, substituting numerical values for A and r into the expression.
The answer is provided in the link here: https://i.imgur.com/6pzwmKp.png
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! the growth rate per year is .25.
the general formula is f = p * (1 + r) ^ n
when p = 12 and r = .25, the formula becomes f = 12 * (1 + .25) ^ n
it looks like they're using A for f.
it's not clear what they're using for n.
the fo0rmula becomes A = 12 * (1 + .25) ^ n
.25 = 25/100, so the formula can also be shown at A = 12 * (1 + 25/100) ^ n
for example:
when n = 3, the formula becomes
A = 12 * (1 + .25) ^ 3 = 12 * 1.953125 = 23.4375.
(1 + .25) ^ 3 means (1 + .25) raised to the third power.
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