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Exponential growth/decay- Ashley has $5,000 in an account that earns 5% interest compounded annually. To the nearest cent, how much will she have in 3 years?
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30 votes
30 votes
Exponential growth/decay-

Ashley has $5,000 in an account that earns 5% interest
compounded annually.
To the nearest cent, how much will she have in 3 years?

Exponential growth/decay- Ashley has $5,000 in an account that earns 5% interest compounded-example-1
User Mushi
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1 Answer

24 votes
24 votes

Answer:

substitute: P=5000, r=5% , n=10, t=3

F= P( 1 x r/n)


nt {?}^(2)

User Igor Pavelek
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2.9k points
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