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15 Points!!! NEED ASAP!!!! Given an exponential function for compounding interest, A(x) = P(1.04)x, what is the rate of change?

15 Points!!! NEED ASAP!!!! Given an exponential function for compounding interest, A(x) = P(1.04)x, what is the rate of change?
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4 votes
15 Points!!! NEED ASAP!!!!

Given an exponential function for compounding interest, A(x) = P(1.04)x, what is the rate of change?

User Nick Scottman
by
8.0k points

1 Answer

2 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%
User TinaW
by
8.0k points
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