Question

The function f(t)= 15000(1.08)^t models the value of an investment t years from now. What is the meaning of the value of f(10)

A the value of the investment 10 years ago
B the value of the investment in 10 years
C the initial value of the investment
D the interest rate the investment earns

Answer 1

in the f(t) = 15000(1.08)ᵗ, which is a form of a compounded interest formula, t = years, so

f(t) = 15000(1.08)¹⁰ , is the value of it when t = 10, after 10 years.