Question

ерес The amount of money in an investment is modeled by the function A(t) = 700(0.8353)'. The variable A represents the investment balance in dollars, and t the number of years since 2001. (A) In 2001, the balance was $ 700 (B) The amount of money in the investment is Select an answer Porr ra (C) The annual rate of change in the balance is 0 %. Enter an integer or decimal nimber more. (D) In the year 2011 the investment balance will equal $ Round answer to the nearest penny.. Licens Points possible: 1 Unlimited attempts.​

Answer 1

The function of the amount of money is an illustration of an exponential function

The initial balance of the investment is $700, and the rate is 83.53%

How to interpret the function?

The function of the amount of money in the investment is given as:

$A(t) = 700(0.8353)^t$

The above function is an exponential function, and an exponential function is represented as:

$A(t) = ab^t$

Where:

a represents the initial value, and b represents the rate.

By comparison, we have:

a = 700

b = 0.8353 = 83.53%

Hence, the initial balance of the investment is $700, and the rate is 83.53%

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