Think About It! Applications for Exponential Growth You have been given a bank account that contains $1,000 under the condition that you
cannot withdraw the principal (the original $1,000) for 30 years. The money will earn 10%
interest each year. A special rule, however, allows you to withdraw the interest each year to
spend on whatever you wish. Would you rather withdraw and spend the interest every year
before getting the original principal, or keep the money in the bank for 30 years and spend
it then?
Think about your answer then watch this short video that explains compound interest.
Finally, create a post in the discussion below that identifies which choice you would make
and why,
$

it would be:

c.parallelogram.

d

step-by-step explanation:

fd

step-by-step explanation:

the solution of the equation is 2.23 ⇒ answer b

step-by-step explanation:

* lets revise the meaning of exponential function

- the form of the exponential function is y = ab^x, where a ≠ 0, b > 0 ,  

  b ≠ 1, and x is any real number

- it has a constant base b

- it has a variable exponent x

- to solve an exponential equation, take the log or ln of both sides,  

  and solve for the variable

* lets solve the problem

∵

- the base is 7 and the exponent is x

- insert ㏑ in both sides

∴

- use the rule

∴ x ㏑(7) = ㏑(77)

- to find x divide both sides by ㏑(7)

∴

* the solution of the equation is 2.23 to the nearest 2 decimal places