a) linvest some money in a savings account that pays me 1.2% compound interest annually. After two years I check my balance and see that it is exactly £1259697.12 What was the balance one year before that? Balance the year before: £ How much did I originally invest? Original investment: £_ 2 marks b) In the compound interest example above, the relationship between my balance and the number of years invested is: O Direct proportion Inverse proportion Quadratic O Exponential None of these is correct

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 40E
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Question 2
This question is about reverse percentages.
a)
Tinvest some money in a savings account that pays me 1.2% compound interest annually.
After two years I check my balance and see that it is exactly £1259697.12
What was the balance one year before that?
Balance the year before: £
How much did I originally invest?
Original investment: £
2 marks
b)
In the compound interest example above, the relationship between my balance and the number of years
invested is:
O Direct proportion
Inverse proportion
Quadratic
Exponential
O None of these is correct
1 mark
Transcribed Image Text:Question 2 This question is about reverse percentages. a) Tinvest some money in a savings account that pays me 1.2% compound interest annually. After two years I check my balance and see that it is exactly £1259697.12 What was the balance one year before that? Balance the year before: £ How much did I originally invest? Original investment: £ 2 marks b) In the compound interest example above, the relationship between my balance and the number of years invested is: O Direct proportion Inverse proportion Quadratic Exponential O None of these is correct 1 mark
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