
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060X
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060X Exercise 38
Step-by-step solution
Step 1 of 4
Consider the following data:
If $1000 is invested at 6% simple interest, the initial value and the future value S at the end of each of 5 years are shown in the table.
Year ( t ) | 0 | 1 | 2 | 3 | 4 | 5 |
Future Value ( S ) | 1000 | 1060 | 1120 | 1180 | 1240 | 1300 |
(a) Since the first differences of data outputs in the table are constant for uniform inputs, the rate of change is constant and a linear function can be found that fits the data exactly.
Thus, a linear function can model exactly the points from the table.
Step 2 of 4
Step 3 of 4
Step 4 of 4
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
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