Question

Guided Practice


Suppose that 0.5% is an annual interest rate. In the formula y = a • bx, what value would you use for b?


A.
1.005


B.
100.5


C.
0.005

Answer 1

Answer:

A.

1.005

Step-by-step explanation:

Answer:

b=1.005

Step-by-step explanation:

b=(1+0.5%)

=1+0.005

=1.005

...............................................................................................................................................

Answer:

b=1.005

Step-by-step explanation:

b=(1+0.5%)

=1+0.005

=1.005

Answer 2

Answer:

1.005

Step-by-step explanation:

The variable b is the growthfactor, which is 100% plusthe interest rate, expressedas a decimal.b  ===100%+0.5%1+0.0051  .005The variable b is the growth factor, which is 100 percent plus the interest rate, expressed as a decimal. B equals 100 percent plus 0.5 percent. Equals 1 plus 0.005. Equals 1.005.