11. The equation A5,000(1.035) describes the dollar amount of an investment after years. a) What is the amount of the initial investment? b) What is the growth factor? c) What is the growth rate as a percentage? d) Rounded to the nearest cent, what is the amount after 7 yeals?
11. The equation A5,000(1.035) describes the dollar amount of an investment after years. a) What is the amount of the initial investment? b) What is the growth factor? c) What is the growth rate as a percentage? d) Rounded to the nearest cent, what is the amount after 7 yeals?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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