Question 423950
ewhen a real-life quantity increases by a fixed percent each year (or other time period), the amount y of the quanitity after t years can be modeled by the equation: P = a(1+r)^t

1. P= 1300(1 + .07)^t
2. P= 1300(1.07)^12 add the quantity first
   P= 1300(2.252) muiltiply by exponent
   p=2927.85
3.approximately 24 years