for A(II and III) I am not sure what am I doing wrong. For B, I used that exact

Question

for A(II and III) I am not sure what am I doing wrong. For B, I used that exact equation to get C and my answer to C was correct but I am not sure why the equation I have for B is incorrect.

An investment of $15,000 increases by 1.2 % each month. a. Find the following: i. Initial value: 15000 Preview ii. 1-month growth factor: 1.2 Preview iii. 1-month percent change: 20 Preview b. Define a function f that determines the value of the investment given t, the number of months since the initial investment was made: iven t, the number of months sir f(t)-150001.Preview c. Using function notation, represent the value of the investment 2 months after the money was invested, then find this value. (Your answer should be of the form f(10) 16900.38) f(2)-21600 Preview Hint: Remember when the value of x is 0. the in

Explanation / Answer

i)initial value =15000

ii)one month growth factor = 1+(1.2/100)=1.012

iii)one month percentage change =1.2%

b)f(t)=15000(1.012)t

c)f(2)=15000(1.012)2=15362.16

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