Question
What is the constant rate of change if you started with an account value of $1,000 and after 3 years the account value was $1,7507 (1 point)
Answers
GPT-4o mini
To find the constant rate of change, we can use the formula for the rate of change, which is:
\[
\text{Rate of Change} = \frac{\text{Change in Value}}{\text{Change in Time}}
\]
In this case, the initial account value is $1,000, and the final account value after 3 years is $1,750. The change in value is:
\[
\text{Change in Value} = \text{Final Value} - \text{Initial Value} = 1,750 - 1,000 = 750
\]
The change in time is 3 years. Now we can calculate the rate of change:
\[
\text{Rate of Change} = \frac{750}{3} = 250
\]
Thus, the constant rate of change is **$250 per year**.
\[
\text{Rate of Change} = \frac{\text{Change in Value}}{\text{Change in Time}}
\]
In this case, the initial account value is $1,000, and the final account value after 3 years is $1,750. The change in value is:
\[
\text{Change in Value} = \text{Final Value} - \text{Initial Value} = 1,750 - 1,000 = 750
\]
The change in time is 3 years. Now we can calculate the rate of change:
\[
\text{Rate of Change} = \frac{750}{3} = 250
\]
Thus, the constant rate of change is **$250 per year**.