document.write( "Question 1067161: Jennifer starts a new investment account that grows exponentially. Her financial advisor tells her the initial investment of $50,000 grows at a rate of about 15% annually.
\n" ); document.write( "1. Determine a function, I(t), that determines Jennifer’s investment account balance after t years. For the exponential growth function, what are the “a” and “b” values? What do those values represent? (5 points for the explanation of “a” and “b” and 5 points for the function)
\n" ); document.write( "2. Calculate how much money Jennifer will have after 10 years. (10 points)
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #682444 by Boreal(15235) $\"\"$ $\"About$

You can put this solution on YOUR website!
exponential function is y=ab^x
\n" ); document.write( "50000*(1+0.15)^t
\n" ); document.write( "The a value is 50,000, the constant which is multiplied by the interest function.
\n" ); document.write( "the b value is 1.15, the return of the money every year is 1.15 times the prior year.
\n" ); document.write( "After 10 years, it is 50,000*(1.15)^10=$202,277.89 assuming the rate is 15%, and \"about\" means 15%. \n" ); document.write( "

\n" );