SOLUTION: Vanessa invested $3,400 in an account that will increase in value by 3.6% each year. Write an exponential function to find the value of this investment after 10 years.

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Vanessa invested $3,400 in an account that will increase in value by 3.6% each year. Write an exponential function to find the value of this investment after 10 years.      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 1154872: Vanessa invested $3,400 in an account that will increase in value by 3.6% each year. Write an exponential function to find the value of this investment after 10 years.
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
y = 3400 * 1.036 ^ 10
in 10 years, the value will be 4842.576288