Grace deposits $1000 in a mutual fund earning 9.25% annual interest, compounded monthly. write an exponential function that models this situation where y is the amount of grace's investment and x is time in years.

First, we calculate for the effective interest given the annual interest and the condition that it is compounded monthly.

                                                Ieff = (1 + 0.0925/12)^12 – 1 = 0.09652

The equation that would best represent the value of Grace’s money after x years is equal to,

                                               An = ($1000)(1.09652)^x

Where x is the number of years

steve should create a type of business report called a business plan. the correct option among the options that are already given in the question is the last or the fourth option. this business report created by steve will actually influence the investors about investing their money in steve's business. this business report will have all the details about the business, the amount of investment required and the amount of expected profit.

step-by-step explanation:

yes it represnts a functio, their are not 2 of the same numbers on the both sides