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13. [2/7 Points] DETAILS PREVIOUS ANSWERS CRAUDCOLALG6 4.3.EX.016. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The table below shows the balance B in a savings
13. [2/7 Points] DETAILS PREVIOUS ANSWERS CRAUDCOLALG6 4.3.EX.016. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The table below shows the balance B in a savings account, dollars, in terms of time t, measured as the number of years since the initial deposit was made. Timet Balance 8 130.00 136.50 2 143.33 3 150.49 158.02 (a) Was the yearly interest rate constant over the first four years? Yes No If so, find the rate. (Round your answer to two decimal places. If the rate is not constant, enter NONE.) % per year Explain why the rate is constant, or why it is not. This answer has not been graded yet. (b) Estimate B(2.25). (Assume that interested is compounded and deposited continuously. Round your answer to two decimal places.) B(2.25) Explain in practical terms what your answer means. The account balance after two years and two months 0x months is approximately $ Need Help? Read It Watch It Talk to a Tutor
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