The Table Lists the Value Y (In Dollars)of $100 Deposited

question 26

Essay

The table lists the value y (in dollars)of $100 deposited in a certificate of deposit (CD)at a
bank after y years. $$\begin{array} { | l | l | l | l | l | l | l | } \hline \text { Year } & 1 & 2 & 3 & 4 & 5 & 20 \\\hline \text { Value } & 103 & 106.09 & 109.27 & 112.55 & 115.93 & 180.61 \\\hline\end{array}$$ Construct a scatterplot and identify the mathematical model that best fits the given data.
Assume that the model is to be used only for the scope of the given data, and consider only
linear, quadratic, logarithmic, exponential, and power models. Include the type of model and
the equation for the model you find.

---

Definitions:

Gratuitous Promise

A vow or commitment to do something for someone else without expecting anything in return.

Breach of Contract

The act of breaking any terms and conditions that were mutually agreed upon in a legally enforceable contract.

Consideration

An item of worth traded between entities within a contract, essential for the contract to be considered enforceable by law.

Common Law

A body of law derived from judicial decisions of courts and similar tribunals, as opposed to statutes or official legislation.