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If money is invested at 10% interest, compounded quarterly, the future value of the investment doubles approximately every 7 years. a. Use this information to complete the table below for an investment of $600 at 10% interest, compounded quarterly. Years 0 7 14 21 28 Future Value ($) 600 ? ? ? ? Complete the following table. Years 0 7 Future Value ($) 600 1200 14 2400 21 4800 28 9600 b. Create an exponential function, rounded to three decimal places, that models the discrete function defined by the table. Choose the correct exponential function, rounded to three decimal places, that models the discrete function defined by the table. A. y=600(1.104)* OB. y=600(1.511)* OC. y=600(1.214)* OD. y=600(0.208)* c. Because the interest is compounded quarterly, this model must be interpreted discretely. Use the rounded function to find the value of the investment in 6 years and in 14 14 years. 1 The value of the investment in 6 years is $ (Round to the nearest cent as needed.)

If money is invested at 10% interest, compounded quarterly, the future value of the investment doubles approximately every 7 years. a. Use this information to complete the table below for an investment of $600 at 10% interest, compounded quarterly. Years 0 7 14 21 28 Future Value ($) 600 ? ? ? ? Complete the following table. Years 0 7 Future Value ($) 600 1200 14 2400 21 4800 28 9600 b. Create an exponential function, rounded to three decimal places, that models the discrete function defined by the table. Choose the correct exponential function, rounded to three decimal places, that models the discrete function defined by the table. A. y=600(1.104)* OB. y=600(1.511)* OC. y=600(1.214)* OD. y=600(0.208)* c. Because the interest is compounded quarterly, this model must be interpreted discretely. Use the rounded function to find the value of the investment in 6 years and in 14 14 years. 1 The value of the investment in 6 years is $ (Round to the nearest cent as needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 23E
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If money is invested at 10% interest, compounded quarterly, the future value of the investment doubles approximately every 7 years. a. Use this information to complete the table below for an investment of $600 at 10% interest, compounded quarterly. Years 0 7 14 21 28 Future Value ($) 600 ? ? ? ? Complete the following table. Years 0 7 Future Value ($) 600 1200 14 2400 21 4800 28 9600 b. Create an exponential function, rounded to three decimal places, that models the discrete function defined by the table. Choose the correct exponential function, rounded to three decimal places, that models the discrete function defined by the table. A. y=600(1.104)* OB. y=600(1.511)* OC. y=600(1.214)* OD. y=600(0.208)* c. Because the interest is compounded quarterly, this model must be interpreted discretely. Use the rounded function to find the value of the investment in 6 years and in 14 14 years. 1 The value of the investment in 6 years is $ (Round to the nearest cent as needed.)
Transcribed Image Text:If money is invested at 10% interest, compounded quarterly, the future value of the investment doubles approximately every 7 years. a. Use this information to complete the table below for an investment of $600 at 10% interest, compounded quarterly. Years 0 7 14 21 28 Future Value ($) 600 ? ? ? ? Complete the following table. Years 0 7 Future Value ($) 600 1200 14 2400 21 4800 28 9600 b. Create an exponential function, rounded to three decimal places, that models the discrete function defined by the table. Choose the correct exponential function, rounded to three decimal places, that models the discrete function defined by the table. A. y=600(1.104)* OB. y=600(1.511)* OC. y=600(1.214)* OD. y=600(0.208)* c. Because the interest is compounded quarterly, this model must be interpreted discretely. Use the rounded function to find the value of the investment in 6 years and in 14 14 years. 1 The value of the investment in 6 years is $ (Round to the nearest cent as needed.)
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