Let be the amount of money in an account, in dollars, months after an initial investment of $.
(a) Find a formula for given that it grows by % each month.
help (formulas)
(b) Find a formula for given that it grows by % every months.
help (formulas)
(c) Which scenario has the largest monthly percent growth rate?
A.
Earning % every months.
B.
Earning % every month.
C.
They have the same monthly percent growth rate.
You can earn partial credit on this problem.