Question
the value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. The value of your investment t years after 2000 is given by the exponential growth model A= 6200e^(0.018(t)). When will the account be worth $9550?
Answers
Steve
just solve
9550 = 6500e^(.18t) for t years
t = 2.137 years from 2000
Just when the amount is reached depends on how often the increase is applied.
9550 = 6500e^(.18t) for t years
t = 2.137 years from 2000
Just when the amount is reached depends on how often the increase is applied.