Question
The balance, B, in dollars, in a bank account depends on the amount deposited, A dollars, the annual interest rate, r %, and the time,
The balance, B, in dollars, in a bank account depends on the amount deposited, A dollars, the annual interest rate, r %, and the time, t, in months since the deposit, so B=f(A,r,t).
(a) Is f an increasing or decreasing function of: The answers to chose from are after the ? mark.
A? ? increasing decreasing neither increasing nor decreasing somtimes increasing and sometimes decreasing r? ? increasing decreasing neither increasing nor decreasing somtimes increasing and sometimes decreasing t? ? increasing decreasing neither increasing nor decreasing somtimes increasing and sometimes decreasing
(b) Interpret the statement f(1000,4,18)?1822 by writing a sentence, including units. Then use your sentence to complete the following: The options to chose from are after the ? mark. The units of 1000 are: ? percent months dollars dollars/month percent/month The units of 4 are: ? percent months dollars dollars/month percent/month The units of 18 are: ? percent months dollars dollars/month percent/month The units of 1822 are ? percent months dollars dollars/month percent/month
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started