Question
y=17000(0.03)^10
Answers
GPT 3.5
To evaluate this expression, we can use the power of a number formula:
y = a * (1 + r)^n
where "a" is the initial amount (17000 in this case), "r" is the interest rate (0.03 in this case), and "n" is the number of years (10 in this case).
Substituting the values:
y = 17000 * (1 + 0.03)^10
Calculating the parenthesis first:
y = 17000 * (1.03)^10
Using a calculator or software, we find:
y ≈ 17000 * (1.34391637915625) ≈ 22,822.97
Therefore, after 10 years, the value of y would be approximately $22,822.97.
y = a * (1 + r)^n
where "a" is the initial amount (17000 in this case), "r" is the interest rate (0.03 in this case), and "n" is the number of years (10 in this case).
Substituting the values:
y = 17000 * (1 + 0.03)^10
Calculating the parenthesis first:
y = 17000 * (1.03)^10
Using a calculator or software, we find:
y ≈ 17000 * (1.34391637915625) ≈ 22,822.97
Therefore, after 10 years, the value of y would be approximately $22,822.97.