## Description

answer the question

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## Explanation & Answer

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3. A principal of (A) OR is deposited in an account that pays A/100 interest compounded yearly.

Account balance function in response of time (years) is π΅(π¦) = πΌ(1 + π)π¦

I: initial value, c: interest compounded yearly, y: time in year.

Hint: A is the last 3 digits in your ID, W is the first two digits in your ID and R is the last

4 digits in your ID

a. Find the account balance after W months.

My ID 20s19866. Then π΄ = 866 and π = 20 ππππ‘βπ . Since the initial value will be the

principal, πΌ = π΄ = 866. Additionally, the time π must be expressed in years. We

calculate

π=

20ππππ‘βπ

1

1π¦πππ

5

β 12ππππ‘βπ = 3 π¦ππππ .

π΄

Finally, we find πΆ = 100 = 8.66% = 0.0866. Then our account balance function is

π΅(π¦) = 866(1.0866) οΏ½...