Question

If the equation was A=d(1.005)^12t models an investment A after t years with an initial deposit d, what would the value of the investment be if he had deposited $1000?

Answer 1

Explanation:

A=d(1.005)^12t

where d=1000

so the equation will be:

A=1000(1.005)^12t

but if the time given, let say t=4

A=1000(1.005)^12t

subtitute t into the equation

A=1000(1.005)^(12×4)

A=1000(1.005)^36

A=1000(1.197)

A=1197

so if he deposit $1000 after 4 years the investment will be around $1197