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OpenStudy (anonymous):
You invest $1400 in a 10 year bond that gives you 3% interest on $1400 each year for 10 years. a. Construct a function that represents the amount of interest, , earned after years. What is the domain and range in this context? What is the input and output?
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OpenStudy (anonymous):
Hey.
OpenStudy (anonymous):
Do you remember the formula for interest?
OpenStudy (anonymous):
1400(1+.03/10)
OpenStudy (anonymous):
Answer :1404.2
OpenStudy (anonymous):
You're welcome.
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OpenStudy (wolf1728):
Actually, the formula is Total = Principal x (1.03)^10 Total = 1400 x 1.3439163793 Total = 1,881.48
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