Question
What is the constant rate of change with an account value of $1000 and after 3 years the account value is $1750
Rate of change per year
Rate of change per year
Answers
GPT-4o mini
To find the constant rate of change for the account value over the 3-year period, we can use the formula for the rate of change:
\[
\text{Rate of change} = \frac{\text{Change in value}}{\text{Change in time}}
\]
1. **Change in value**: The account value increased from $1000 to $1750. Therefore, the change in value is:
\[
1750 - 1000 = 750
\]
2. **Change in time**: The time period over which this change occurred is 3 years.
Now, plug these values into the formula:
\[
\text{Rate of change} = \frac{750}{3} = 250
\]
Thus, the constant rate of change per year is **$250**.
\[
\text{Rate of change} = \frac{\text{Change in value}}{\text{Change in time}}
\]
1. **Change in value**: The account value increased from $1000 to $1750. Therefore, the change in value is:
\[
1750 - 1000 = 750
\]
2. **Change in time**: The time period over which this change occurred is 3 years.
Now, plug these values into the formula:
\[
\text{Rate of change} = \frac{750}{3} = 250
\]
Thus, the constant rate of change per year is **$250**.