Plz help me with this

Question

07-01-2021
Mathematics

Answered

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Plz help me with this

Sagot :

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sqdancefan sqdancefan · Answer 1 · 2021-01-07T14:35:07-05:00

9514 1404 393

Answer:

growth
2.3%

Step-by-step explanation:

The number with the exponent is 1+0.023/4 = 1.00575. This number is greater than 1, so represents growth.

When x increases by 1, the multiplier of 800 increases by ...

1.00575^4 ≈ 1.023199 = 1 + 2.3199%

Rounded to the nearest tenth percent, this is a 2.3% growth rate.

_____

Additional comment

The formula corresponds to a financial formula in which a 2.3% annual interest rate is compounded 4 times per year. The effective annual interest rate is almost 2.32% per year. The difference is there, but is too small to see when the interest rate is rounded to a tenth percent.

Sagot :

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