Question

Julio has begun investing money. The value of Julio's investment can be modeled by the equation LaTeX: y=8150t (1.14\right)^t = 8150 ( 1.14 ) t where t is the number of years since 2010 and y is the value in dollars. What was the value of Julio's investment in 2018? Round your answer to the nearest dollar. Group of answer choices

Answer 1

23,249 dollars

Explanation:

Given the value of Julio investment expressed as;

y = 8150(1.14^t)

y is the value in dollars

At 2018, the number of years he has used in investing will have e=been 8 years. Substitute t = 8 into the expression;

y = 8150(1.14^8)

y = 8150(2.8526)

y = 23,248.58

Hence the investment amount in 2018 is 23,249 dollars