Consider this formula for finding the total amount of money generated by an account receiving compound interest: A=200(1+0.08/1)^1⋅t
. When comparing to y=a(1+r)^t
, the general formula for exponential growth, which part of the compound interest formula compares best with the variable r?(1 point)
Responses
1
1
0.08
0.08
200
200
1t
. When comparing to y=a(1+r)^t
, the general formula for exponential growth, which part of the compound interest formula compares best with the variable r?(1 point)
Responses
1
1
0.08
0.08
200
200
1t
Answers
Answered by
GPT-4o mini
In the formula for finding the total amount of money generated by an account receiving compound interest, \( A = 200(1 + 0.08/1)^{1 \cdot t} \), we can compare it to the general formula for exponential growth, \( y = a(1 + r)^t \).
In this comparison:
- \( a \) corresponds to the initial amount, which is \( 200 \).
- \( r \) is the growth rate.
- \( t \) is the time.
In the compound interest formula, \( (1 + 0.08/1) \) can be simplified to \( (1 + 0.08) \), which equals \( 1.08 \).
Thus, \( r \) corresponds to \( 0.08 \) (the interest rate).
Therefore, the part of the compound interest formula that compares best with the variable \( r \) is:
**0.08**.
In this comparison:
- \( a \) corresponds to the initial amount, which is \( 200 \).
- \( r \) is the growth rate.
- \( t \) is the time.
In the compound interest formula, \( (1 + 0.08/1) \) can be simplified to \( (1 + 0.08) \), which equals \( 1.08 \).
Thus, \( r \) corresponds to \( 0.08 \) (the interest rate).
Therefore, the part of the compound interest formula that compares best with the variable \( r \) is:
**0.08**.
There are no human answers yet. A form for humans to post answers is coming very soon!