These are all the variables of an exponential function and displays their uses in real-life situations. y = a(b)^x + c Money: Y Year: X Initial Value of Deposited Money: a Change in Percentage: b Value of Undeposited Money: c
Imagine that you have a hundred bucks. See how some banks with higher APYs can impact your money value throughout a 100 years. - Chase Bank offers an annual percentage rate of increase in 1%, or 1.01. - Some banks that are not bank chains or industries such as Citizens Access provide a 4.5% annual percentage change or 1.045 change to your deposited money. - However, these non-bank chains have a major disadvantage because of its financial structure instability and can result in business failure, resulting in money loss.
