SOLUTION: 3 years ago you had $120 in the bank. You now have $192. If the amount of money at the end of each year increases exponentially, then how much will you have in the bank after anoth

Question 1154481: 3 years ago you had $120 in the bank. You now have $192. If the amount of money at the end of each year increases exponentially, then how much will you have in the bank after another 7 years?
(Assume that you do not deposit or withdraw any money)
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
.


Then one year growing coefficient/(factor) (in exponential model) is


    q =  = 1.1696.


Hence, after another 7 years the balance at the account will be


    balance =  = 574.86 dollars.    ANSWER

Solved.

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