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2.3 Exponential Modeling [FA22-SP23] 6 of 19 Next > Angela Thomas Stephan's Savings part 1 In 1997 Stephan worked for four months as a high
2.3 Exponential Modeling [FA22-SP23] 6 of 19 Next > Angela Thomas Stephan's Savings part 1 In 1997 Stephan worked for four months as a high school teacher, and while at that job he deposited $160 into a retirement account which earned 4.5% per year. He listed his fiancee as the beneficiary should he pass away. He did indeed marry his fiancee but then died shortly thereafter, leaving her no records of ever having this retirement account. In 2007 the financial institution was able to track down his widow; how much was the account worth when they sent her the funds? Use the Q = Q(1 + r)' form to write the exponential model for this scenario in the space below. Then click 'submit' to see if you were right: Submit
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