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Sagot :
The constant percent rate of change in the case of a deposit of $400 into a savings account is compounded annually. The function g(x) = [tex]400(1.03)^{x} 400(1.03)^{x}[/tex] can be used to find the amount of money in the savings account after x years, which would be - 3%.
Given:
- Principal - $400
- rate of interest is compounded annually
- g(x) = [tex]400(1.03)^{x}[/tex] . . . . . equation 1.
Formula used:
- A = [tex]P (1+r)^{n}[/tex]
- here n = x
Solution:
Putting the value of n, and principal in the formula:
=> [tex]A = 400 (1+r)^{x} ......... equation 2[/tex]
now comparing both equation 1 and equation 2,
we get,
=> [tex]400 (1+r)^x = 400(1.03)^x[/tex]
=> [tex](1+r)^x = (1.03)^x[/tex]
=> 1 + r = 1.03
=> r = 1.03 - 1
=> r = 0.03
=> r % = 0.03 × 100
=> r % = 3 %
thus, the constant percent rate of change = 3%
Learn more about compound interest:
https://brainly.com/question/14295570
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