document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=239748>Question 239748</A>: <I><SPAN STYLE=\"word-break: break-all;\"> you invest $350 that pays a yearly interest rate of 6%<BR>\n" );
document.write( "write a formula for an exponential function giving the balance of the account (B) , in dollars , as a function of the time (t) , in years, since initial investment </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #175883 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=175883\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 350 * (1.06)^t = future value of this account.\r<BR>\n" );
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document.write( "at the end of 1 year, the account will have 350 * (1.06)^1 = 371\r<BR>\n" );
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document.write( "at the end of 2 years, the account will have 350 * (1.06)2 = 393.26\r<BR>\n" );
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document.write( "that comes out as 350 * 1.06 * 1.06 \r<BR>\n" );
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document.write( "since 350 * 1.06 = 371 * 1.06 = 393.26, the interest earned each year is combined with the principal and then interest is earned on the sum.\r<BR>\n" );
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document.write( "at the end of 10 years, the account will have 350 * (1.06)^10 = 626.80\r<BR>\n" );
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document.write( " </SPAN>\n" );
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