Question

Vladimir is looking to retire in 10 years. He has a plan to put $25,000 into an investment today that earns interest at a fixed amount per year. What would be a reasonable domain and range for a function modeling the total amount of the investment, including interest?
25 Points for the correct answer

Answer 1

The domain and range for a function modeling the total amount of the investment, including interest are as follows;

• Domain, X = {0<= years <= 10}
• Range, Y (total amount) = {$25,000<= Y <= 25,000( 1 + 10R)}

The starting principal amount, P is $25,000.

• Let the interest rate per year, be represented as, R (%)

• Time of investment, T = 10 years

In essence, after 10 years, the total amount Vladimir has is;

• Total amount = 25,000( 1 + xR).

In essence, the domain (No. of years ) is;

• Domain, X = {0<= years <= 10}

• Range, Y (total amount) = {$25,000<= Y <= 25,000( 1 + xR)}

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