Given an exponential function for compounding interest, a(x) = p(1.03)x, what is the rate of change?
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Answered by
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The rate of change is found by differentiating the function:
a(x) = p(1.03)^x
d/dx a^x = a^x ln(a)
d/dx (p(1.03)^x) = p(1.03)^x ln 1.03
= 0.03p(1.03)^x
NOTE:
Derivatives/derived functions give the rates of change.
a(x) = p(1.03)^x
d/dx a^x = a^x ln(a)
d/dx (p(1.03)^x) = p(1.03)^x ln 1.03
= 0.03p(1.03)^x
NOTE:
Derivatives/derived functions give the rates of change.
Answered by
0
Answer:
Step-by-step explanation:
The rate of change is found by differentiating the function:
a(x) = p(1.03)^x
d/dx a^x = a^x ln(a)
d/dx (p(1.03)^x) = p(1.03)^x ln 1.03
= 0.03p(1.03)^x
NOTE:
Derivatives/derived functions give the rates of change.
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