Answer:
Step-by-step Answer:
a)I = $5500+$792n b) $7876
Step-by-step explanation:
a) Amount invested = $5500
Monthly earning = 1.2%of $5500
= 1.2/100×5500
= $66
earning for a year = 12×$66 = $792
Earnings for 'n' years = $672n
Investment overtime = Amount invested+ earning for 'n' years
= $5500+$792n
Let the investment overtime be I, a function that model the investment overtime will be;
I = $5500+$792n where n is the number of years.
b) Value of investment after 3years can be gotten using the model function in (a) where n is 3years
I = $5500+$792(3)
I = $5500 + $2376
I = $7876:
