Determine what type of model best fits the given situation: Principal P is invested at an annual interest of rate r, compounded k times a year for t years.A. exponentialB. none of theseC. quadraticD. linear

OkTalk asked Jun 11, 2023

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OkTalk asked Jun 11, 2023

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20 votes

Remember that

The compound interest formula is equal to

therefore

The answer is Exponential

Aniket Inge answered Jun 17, 2023

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