SOLUTION: Abby opened a retirement account with 9% APR and initial deposit of $8,000 compounded monthly.
(a) Find the exponential function that models the value of Alyssa’s retirement acc
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Exponential-and-logarithmic-functions
-> SOLUTION: Abby opened a retirement account with 9% APR and initial deposit of $8,000 compounded monthly.
(a) Find the exponential function that models the value of Alyssa’s retirement acc
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Question 1148883: Abby opened a retirement account with 9% APR and initial deposit of $8,000 compounded monthly.
(a) Find the exponential function that models the value of Alyssa’s retirement account after t years.
(b) How long will it take to double the initial value? Estimate your answer to the nearest year.
(c) How long will it take to triple the initial value? Estimate your answer to the nearest year.
(d) How long will it take for the value of the account to reach 7 times the value of the account after 2 years? Answer by ikleyn(52800) (Show Source):
