Question

The original value of an investment is $1400, and the value increases by 9%

each year. Uşe an exponential growth function to find the value of the
investment after 25 years.

Answer 1

120723.13

Explanation:

annually compoudning interest works like this

PV(1+i)^n

which means we have

14000(1+.09)^25

put this into a calculator and get

120723.13