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Concept explainers
To explain: The reason of assuming the initial investment as
![Check Mark](/static/check-mark.png)
Answer to Problem 11HP
The value of P affects the interest rate.
Explanation of Solution
Given information: Initial investment is $1
Calculation:
The value of P affects the interest rate since it is a coefficient and therefore outside of the power. Any value of P can then be used. It is just more convenient to choose P =1 since the expression simplifies to have no coefficient.
Chapter 7 Solutions
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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