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

Algebra ->  Test -> 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      Log On

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