Answer: [tex]A(t) = 2,675(1.003)^{120}[/tex]
[tex]A(t) = 4,170(1.04)[/tex]
[tex]A(t) = 5,750(1.0024)^{20}[/tex]
Step-by-step explanation:
The exponential growth equation is given by :-
[tex]y=Ab^x[/tex] , where A = initial value , x= time period , b= growth factor.
The growth factor should be greater than 1.
From all the given options , the equations that are exponential :
[tex]A(t) = 2,675(1.003)^{120}[/tex] , here b= 1.003
[tex]A(t) = 4,170(1.04)[/tex] , here b= 1.04
[tex]A(t) = 3,500(0.997)^{4t}[/tex] , here b= 0.997
[tex]A(t) = 5,750(1.0024)^{20}[/tex] , here b= 1.0024
[tex]A(t) = 1,500(0.998)^{127}[/tex] , here b= 0.998
[tex]A(t) = 2,950(0.999)[/tex] , here b= 0.999
From the above exponential equations , only first , second and fourth equation has b>1.
So , the models that could represent a compound interest account that is growing exponentially. are :
[tex]A(t) = 2,675(1.003)^{120}[/tex]
[tex]A(t) = 4,170(1.04)[/tex]
[tex]A(t) = 5,750(1.0024)^{20}[/tex]
