. Is the compound interest formula—such as would be used to calculate a car loan—an example of a function? If yes, of what type of function is it an example? Why might you identify it with that type of function?

Question

.   Is the compound interest formula—such as would be used to calculate a car loan—an example of a function? If yes, of what type of function is it an example? Why might you identify it with that type of function?

anonymous · Answer

the kind of function that costs you a lot of money

anonymous · Answer

an exponential function

anonymous · Answer

compound interest formula is in fact not used to find the payments on a car loan.  they are two very different formulas. but compound interest is exponential, and payments do involve exponential functions