Question

The function f(x) = (1.007207)12x models the monthly interest that a bank offers to Dan after x years. Dan converts the function to have x isolated in the exponent. What is the approximate rate of growth?

1%

5%

9%

12%

Answer 1

@iPwnBunnies

Answer 2

@jigglypuff314

Answer 3

its 12^x

Answer 4

@kropot72

Answer 5

I'm not too good at this interest rate stuff :/
but if I'm to guess...
it might have to do with A = P(1+r)^t equation
where P is the principle, r is rate, and t is time

Answer 6

thats okay, can you help me with another question then?

Answer 7

wait
my guess for this one was 1.007207 = (1+r) solve for r and round

Answer 8

what about the 12^x?

Answer 9

I think 12 = P
and x = time

Answer 10

okay, i think i got it. do you mind helping me with another?

Answer 11

sure, try posting it as another question