Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

exponential functions . A student deposited money into a savings account. The following equation models the amount of money in the account, A(t), after t

exponential functions

image text in transcribed
. A student deposited money into a savings account. The following equation models the amount of money in the account, A(t), after t years. A(z) = 1575(1.045) State the initial amount of money deposited into the account. (1 mark) b. Determine the annual interest rate being paid on the account. (1 mark) c. Use the equation to find the amount of money, to the nearest dollar, in the account after 15 years. Show your substitution and calculations. (1 mark) d. How many years, to the nearest whole year, will it take for the account to have at least $4000? Show work, or describe how this was found on your calculator. (2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Why Knot An Introduction To The Mathematical Theory Of Knots With Tangle

Authors: Colin Adams

1st Edition

0470413492, 978-0470413494

More Books

Students also viewed these Mathematics questions

Question

Your math problem (1)/(x^(8)) Find solutions on the web

Answered: 1 week ago