Register
14. You deposit $500 in a savings account that carns 7% interest compouncted anually. A.) write a function that represents the balance after t years B.) What is the balance after 2 years?
63.4k views
20 votes
14. You deposit $500 in a savings account that

carns 7% interest compouncted anually.
A.) write a function that represents the balance
after t years
B.) What is the balance after 2 years?

User Gatspy
by
8.4k points

2 Answers

7 votes

Answer:

A) A(t) = 500e^(0.07)(t)

B) 575.137

Explanation:

User Viren V Varasadiya
by
8.4k points
11 votes
A) Balance = 500(1.07)^t
B) Balance after 2 years = 500(1.07)^2 = $572.45
User Ximbal
by
8.3k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Link Copied!