SOLUTION: Chris wants to put aside $2,000 to buy a house in the future. He decides to invest the money into a Certificate of Deposit that will earn 4% interest per year. Write an equation
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Question 1105196: Chris wants to put aside $2,000 to buy a house in the future. He decides to invest the money into a Certificate of Deposit that will earn 4% interest per year. Write an equation to calculate the value (y) of his certificate after time period x.
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Chris wants to put aside $2,000 to buy a house in the future. He decides to invest the money into a Certificate of Deposit that will earn 4% interest per year. Write an equation to calculate the value (y) of his certificate after time period x.
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A(x) = 2000*(1.04)^x
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Cheers,
Stan H.
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