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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.  Year 1234520 Value 103106.09109.27112.55115.93180.61\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:

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar enough to be considered substitutes.

Shortage

A market condition where the demand for a product exceeds the supply of that product, often leading to higher prices.

Effective Price Ceiling

A government-imposed limit on how high the price of a product can be charged, set below the market equilibrium to be effective.

Equilibrium Price

The price at which the quantity of a good or service demanded meets the quantity supplied, resulting in a stable market condition.

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