A bond is purchased for $1,000 that pays 6 percent of the purchase price annually. Is the amount earned described by a linear or exponential function?(1 point)
Responses
The interest paid each year is constant, so the amount earned is multiplied by a constant factor for equal time intervals. This is an exponential function.
The interest paid each year is constant, so the amount earned is multiplied by a constant factor for equal time intervals. This is an exponential function.
The interest paid each year is constant, so the amount earned is multiplied by a constant factor for equal time intervals. This is a linear function.
The interest paid each year is constant, so the amount earned is multiplied by a constant factor for equal time intervals. This is a linear function.
The interest paid each year is constant, so the amount earned increases by a constant amount for equal time intervals. This is an exponential function.
The interest paid each year is constant, so the amount earned increases by a constant amount for equal time intervals. This is an exponential function.
The interest paid each year is constant, so the amount earned increases by a constant amount for equal time intervals. This is a linear function.