The Amount of an Investment a After 36 Months Can

question 205

Multiple Choice

The amount of an investment A after 36 months can be modeled by the formula where P is the initial investment amount and r % is the interest rate. If Marcus invests $2000 in this account with an interest rate of 3.7500% how much money will be in the account at the end of 36 months? (Rounded to the nearest hundredths)

• A) $7526.65
• B) $2006.25
• C) $2000
• D) $72225.00
• E) $2237.75

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Definitions:

Expense Function

A mathematical representation or formula used to calculate the total expenses incurred by a business or individual.

Demand Function

A mathematical formula representing the relationship between the quantity demanded of a good and its affecting factors such as price, income, and preferences.

Revenue

The income a business receives from selling a product.

Wholesale Price

The price that manufacturers charge the retailer.