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Hank is opening a special investment CD account that offers 0.45% interest compounded monthly. The account requires a minimal initial investment of $5,000. If Hank deposits the minimum amount, write an exponential expression in the form a(b)c, where b is a single value, to find the amount of money, in dollars, that will be in the account after t years. Round any decimals to the nearest hundred-thousandth and do not include dollar signs in the expression.

2 Answers

1 vote
5000(0.45)^t is the answer
User Pavel Molchanov
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5 votes

Answer:

5,000(1.00038)^12t CORRECT ANSWER

Explanation:

User Zeng Cheng
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