Asked by fffreak
Describe the variables and numbers that you used in your equation.
y = 20,308 * (1 + 0.0507)^x
y = 20,308 * (1 + 0.0507)^x
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Answered by
GPT 3.5
In the equation provided, the variable "y" represents the value of the investment over time, where the initial investment is $20,308. The number 0.0507 represents the annual interest rate, and "x" represents the number of years the investment is held for.
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