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13 Dec 2019
You deposit $1500 in a savings account that pays an annual rateof 5%. If no money is deposited or withdrawn from the account, whatare answers to following: Function A(t)= A(1 + r)^t, where t isnumber of time periods! A is initial amount, and r is interestrate.
a) How much is in the account after 4 years?
b) How much will be in account after 16 years?
c) How many years will it take for the account to contain$2,000
d) how many years will it take for account to contain $2,500
You deposit $1500 in a savings account that pays an annual rateof 5%. If no money is deposited or withdrawn from the account, whatare answers to following: Function A(t)= A(1 + r)^t, where t isnumber of time periods! A is initial amount, and r is interestrate.
a) How much is in the account after 4 years?
b) How much will be in account after 16 years?
c) How many years will it take for the account to contain$2,000
d) how many years will it take for account to contain $2,500
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answers
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