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

question 23

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.

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Definitions:

GAAP

A set of widely followed rules and standards in financial reporting, termed Generally Accepted Accounting Principles.

Factoring Transaction

A financial arrangement where a business sells its accounts receivable to a third party at a discount to raise immediate capital.

Sales Returns

Transactions where customers return previously purchased merchandise for a refund or credit.

Notes Receivable

Notes Receivable are written promises for amounts to be received by a business, indicating that another party has agreed to pay the business a specific sum of money on a certain date.