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20 February, 10:06

A initial investment of $10,000 grows at 11% per year. What function represents the value of the investment

after t years?

a. f (t) = 10000 (0.11) t

c. f (t) = 10000 (1.11) t

b. f (t) = 10000 (12) t

d. f (t) = 10000 (1.11) t

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Answers (1)
  1. 20 February, 13:10
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    Growing implies that every year is bigger so the percentage have to be greater than 1

    in this case

    c. f (t) = 10000 (1.11) t

    d. f (t) = 10000 (1.11) t

    would be both answers given that 1.11 represents an increase of 11%
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