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Given an exponential function for compounding interest, A(x) = P(1.02)x, what is the rate of change?

Given an exponential function for compounding interest, A(x) = P(1.02)x, what is the rate of change?
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2 votes
Given an exponential function for compounding interest, A(x) = P(1.02)x, what is the rate of change?

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User Agentem
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8.4k points

1 Answer

6 votes
A(x) = P(1.02)^x
A(x) = P(1 + 0.02)^x
A(x) = P(1 + r)^x

Therefore rate of change = 0.02 = 2%
answered
User MRu
by
7.7k points
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