SOLUTION: Alisa is investing $6,250 to get ready for college expenses. Her bank offers an annual rate of 6.12% per year and she plans to do this for 4 years. How much will she have saved a

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Alisa is investing $6,250 to get ready for college expenses. Her bank offers an annual rate of 6.12% per year and she plans to do this for 4 years. How much will she have saved a      Log On


   

Question 1175641: Alisa is investing $6,250 to get ready for college expenses. Her bank offers an annual rate of 6.12% per year and she plans to do this for 4 years. How much will she have saved after 4 years?
Part A: Write an exponential functions to model the situation.
A(t) =
Part B: Round your answer to the nearest dollar. After 4 years she will have saved how much?

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
the function is A(x)=6250(1+0.0612)^4 or 6250(1.0612)^4 in dollars
That is = $7926.27 or $7926.