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the original value of an investment is $1,800. if the value has increased by 7% each year, write an exponential to model the situation. then, find the value of the investment after 15 years

Respuesta :

carlosego
For this case we have an equation of the form:
 y = A (b) ^ t
 Where,
 A: initial amount
 b: growth rate
 t: time
 Substituting values we have:
 y = 1800 * (1.07) ^ t
 For 15 years we have:
 y = 1800 * (1.07) ^ 15
 y = 4966.256773 $
 Answer:
 An exponential to model of the situation is:
 y = 1800 * (1.07) ^ t
 the value of the investment after 15 years is:
 y = 4966.256773 $

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