Question

4. On the day Alex was born, his father invested $5000 in an account with a 1.2% annual growth rate.

Answer the questions below.
(a) Write a function, A(t), that represents the value
of this investment t years after Alex's birth.
(b) Use your equation to determine how much the
investment will be worth when Alexander turns
21

Answer 1

Answer:

A) A(t) = 5000(1 + 0.012)t

B) A(t) = 106260

Explanation:

A) 5000 is the initial amount, 1 + 0.012 is the interest rate, and t represents the years.

B) When we plug 21 into the equation, we get 106260.

I hope this helps!