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

question 131

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:

Open Account

a method of credit where the seller ships goods or provides services to a buyer under an agreement to bill them later or on a recurring basis.

Assets

Resources owned by a business, expected to bring future economic benefits.

Liabilities

Debts or financial responsibilities that a business has to other entities, requiring repayment over a period through the exchange of economic resources such as cash, products, or services.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, essentially representing the owner's claim against the company's assets.