Question
you invest 1000$ at an annual growth intrest rate of 5%.how much money will your investment be worth in 20years?
Answers
Mrs Watts
Exponential growth
a = initial amount before measuring growth/decay ($1000)
r = growth/decay rate (often a percent)(5% or .05)
x = number of time intervals that have passed (20 years)
y=a(1+r)^20
a = initial amount before measuring growth/decay ($1000)
r = growth/decay rate (often a percent)(5% or .05)
x = number of time intervals that have passed (20 years)
y=a(1+r)^20
Mrs Watts
sorry...the formula should read
y=a(1+r)^x
y=a(1+r)^x