Answer:
C.) $1,625
Step-by-step explanation:
Going by the numbers on the graph, you can immediately tell $1,350 and $1,475 are way too low, so cancel those out and you get $1,625 and $1,800
From here, you can see that in 5 years it hasn't gone up by far, so it won't be 1,800$ by 10 years end, making the answer clear
You can just double 280 and get 560, which the closest answer is 1,625
It's really just a high-low estimate question, 2 answers are too high or low, one is close but not really, and one is just right- or inbetween
$1,625
The amount $1625 is closest to the value of the investment 10 years after the initial investment option third is correct.
It is defined as the function that rapidly increases and the value of the exponential function is always a positive. It denotes with exponent [tex]\rm y = a^x[/tex]
where a is a constant and a>1
Let's suppose the exponential function that model the problem is:
[tex]\rm y = ae^k^x[/tex]
Plug x = 1 and y = 1050
[tex]\rm 1050 = ae^k[/tex] ...(1)
Plug x = 2 and y = 1103
[tex]\rm 1103 = ae^2^k[/tex] ...(2)
Divide equation (2) with (1)
[tex]\rm e^k = 1.0504[/tex]
Taking ln to get the value of k
k = 0.0491
a = 999.69
The exponential function:
[tex]\rm y = (999.6902)e^{0.0491}^x[/tex]
Plug x = 10 years in the above function:
y = $1633.44
Which is close to $1625
Thus, the amount $1625 is closest to the value of the investment 10 years after the initial investment option third is correct.
Learn more about the exponential function here:
brainly.com/question/11487261
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