exponential functions & compound interest
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8/8/2019 Exponential Functions & Compound Interest
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EXPONENTIAL FUNCTIONS & COMPOUND INTEREST
Compound Interest:
time
Growth/Decay Rate:
Growth b = (1+r)
Decay b = (1-r)
*r is written as a decimal*
Starting amount
Accumulated
AmountInitial Principal
(Amount Invested)# of times interest
is compounded
per year
# of years
Annual interest
rate (written as
a decimal
# of times interest
is compounded
per year