Mathematics, 17.04.2021 03:10 WampWamp8751
A savings account with an initial balance of $1000 earns 10% interest per year. That means that the account balance grows by a factor of 1.10each yearif no deposits or withdrawalsare made. The account balance in dollars B(t) is an exponential function of the time t in yearafter the initial deposit.
a. What is the equation of this exponential function?
b. What will be the account balance after 7 years?
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A savings account with an initial balance of $1000 earns 10% interest per year. That means that the...
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