Question

PLEASE HELP ME? 10 POINTS??? HELP ME ASAP

Answer 1

Third answer

`p\%=(p)/(100)\\\\4\%=(4)/(100)=0.04\\\\\text{Therefore the equation is:}\\\\\boxed{y=3000(1+0.04)^n}`

Why?

4% per year.

100% + 4% = 1 + 0.04

after the first year

`y=3000(1+0.04)`

after the second year

`y=3000(1+0.04)(1+0.04)=3000(1+0.04)^2`

after the third year

`y=3000(1+0.04)^2(1+0.04)=3000(1+0.04)^3`

. . .

after the nth year

`y=3000(1+0.04)^n`