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2 May, 21:35

The original value of an investment is $1,800. if the value has increased by 7% each year, write an exponential to model the situation. then, find the value of the investment after 15 years

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  1. 2 May, 21:48
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    For this case we have an equation of the form:

    y = A (b) ^ t

    Where,

    A: initial amount

    b: growth rate

    t: time

    Substituting values we have:

    y = 1800 * (1.07) ^ t

    For 15 years we have:

    y = 1800 * (1.07) ^ 15

    y = 4966.256773 $

    Answer:

    An exponential to model of the situation is:

    y = 1800 * (1.07) ^ t

    the value of the investment after 15 years is:

    y = 4966.256773 $
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