If you deposit $1000 in a savings account with an interest rate of r compounded annually, then the balance in the account after 3 years is given by the function B(c) = 1000(1 + r)?. where r is written as a decimal.
What interest rate will yield a balance of $1100 after 3 years?
a 3.23%
c. 3.63%
b. 3.33%
d. 3.66%
Please select the best answer from the choices provided

the answer is A. 3.23%

Step-by-step explanation:

b

step-by-step explanation:

the equation of a line in point- slope form is

y - b = m(x - a)

where m is the slope and (a, b) a point on the line

calculate m using the slope formula

m = (y₂ - y₁ ) / (x₂ - x₁ )

with (x₁, y₁ ) = (0, 4) and (x₂, y₂ ) = (3, - 5) ← 2 points on the line

m = = = - 3

with m = - 3 and (a, b) = (3, - 5), then

y - (- 5) = - 3(x - 3), that is

y + 5 = - 3(x - 3) → b