SOLUTION: If $5000 is invested in a savings account with an interest rate of 3% the amount in the account after t years is given by A(t)=5000(1+0.03)^t. Find the amount in the account after

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Question 1203676: If $5000 is invested in a savings account with an interest rate of 3% the amount in the account after t years is given by A(t)=5000(1+0.03)^t. Find the amount in the account after 8 years.
Found 2 solutions by greenestamps, mananth:
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


The problem only asks you to perform a calculation: A%288%29=5000%281%2B0.03%29%5E8

Do it. It is not our purpose here to do straightforward calculations for you.

Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
If $5000 is invested in a savings account with an interest rate of 3% the amount in the account after t years is given by A(t)=5000(1+0.03)^t. Find the amount in the account after 8 years

A(t)=5000(1+0.03)^t
A(8)=5000*(1.03)^8
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