Concept explainers
To graph:
Answer to Problem 6PPS
It can be concluded that as the number of compoundings per year decreases the final amount also decreases.
Explanation of Solution
Given information: Standard compound formula is to be modified as instructed.
Graph:
Assuming
Red line represents
After modifying the function as instructed in question, the magnitude of ordinates slightly decreases for the same abscissa,
The modification decreases the number of times interest applied per time period to
Hence, it can be concluded that as the number of compoundings per year decreases the final amount also decreases.
Chapter 7 Solutions
Algebra 1, Homework Practice Workbook (MERRILL ALGEBRA 1)
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