Marisa and Miguel each invested $3000 for 8 years. Marisa invested her money at 4.5% simple interest and Miguel invested his money at 4.5% compounded annually. How much more interest will Miguel earn than Marisa?

$186.30

Explanation:

Marisa: $4080

Miguel: $4,266.30

4266.30-4080=$186.30

the solution of the equation is 2.23 ⇒ answer b

step-by-step explanation:

* lets revise the meaning of exponential function

- the form of the exponential function is y = ab^x, where a ≠ 0, b > 0 ,  

  b ≠ 1, and x is any real number

- it has a constant base b

- it has a variable exponent x

- to solve an exponential equation, take the log or ln of both sides,  

  and solve for the variable

* lets solve the problem

∵

- the base is 7 and the exponent is x

- insert ㏑ in both sides

∴

- use the rule

∴ x ㏑(7) = ㏑(77)

- to find x divide both sides by ㏑(7)

∴

* the solution of the equation is 2.23 to the nearest 2 decimal places

step-by-step explanation: