Question 728636
The equation for exponential growth is {{{A=a(1+x)^t}}}.
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a=the original starting rate (the compound: $700)
x=percent the rate is increasing annually (depreciation of 9%)
t=amount of time past while the amount is increasing (3 years)
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So, your equation would be...
{{{A=a(1+x)^t}}}
A=700(1+.09)^3 (^3 is (1+.09) to the third exponent)
A=700(1.09)^3
A=700(1.295029)
A=906.5203
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So, your answer would be $906.52.
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For more on exponential growth and also exponential decay, try this link:
http://www.regentsprep.org/Regents/math/ALGEBRA/AE7/ExpDecayL.htm