Suppose you invest $580 at 10% compounded continuously , write an exponential function to model the amount in your investment account ?
Answers
Interest=percent times rate(in years) times principal. Or I=PRT So you invest $580 so I=$580 Rate would be .10 and time would be 1 for one year. So if you put this into the formula you get $580=P(.65)(1) So $580=.65P so $580/.65=P so P is approximately $892.31 per year.
A student creates a scale drawing of a park, where 12 miles = 3 inches on a map. If a trail in the park is 16 miles long, how long is the trail on the map, in inches?