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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
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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

User Inuart
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6.3k points

1 Answer

6 votes

Remember that

The compound interest formula is equal to


A=P(1+(r)/(n))^(nt)

therefore

The answer is Exponential

User Uncle Arnie
by
5.4k points
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