Question

vanessa invested $2500 into an account that will increase in value 3.5% each year. write an exponential function, then find the value of the investment after 20 years

Answer 1

Answer: A = 2500 (1.035)^n

A= $ 4,974.47

Explanation:

A=P(1+r)^n

A= Amount

P= Principal

R= rate

N= # of years

A= 2500(1.035)^n

N=20

2500(1.035)^20

A= 4,974.47