Question

Is the compound interest formula - such as for 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?

Answer 1

@HawkCrimson ?

Answer 2

compound interest formula
\[A=P\left(1+{r\over k}\right)^{kn}\]
n = period.
P = principal
r = annual rate
k = compounding period

thus the final amount is an exponential function of "time, or period"

Answer 3

Does this make it a function though, why?

Answer 4

yes,
because, for every value of "n" (the function variable), there is a unique value of "A" (the function itself)
this satisfies the condition for A to be the function of "n"