4. Jan invested $2500 in an investment vehicle that is guaranteed to earn 4% interest compounded yearly, The amount of money, A, in his account as a function of the number of years, t, since creating the ac t given by the equation A(t)= 2500(1.04)'. (b) What do the two values that you found in part (a) Evaluate A(0) and A(10). (a) represent? (c) Using tables on your calculator, determine, to the nearest whole year, the value of t that (d) What does the value of t that you found in part (c) represent about Ian's investment? solves the equation A(t) 5000. Justify your answer with numerical evidence.

4. Jan invested $2500 in an investment vehicle that is guaranteed to earn 4% interest compounded yearly, The amount of money, A, in his account as a function of the number of years, t, since creating the ac t given by the equation A(t)= 2500(1.04)'. (b) What do the two values that you found in part (a) Evaluate A(0) and A(10). (a) represent? (c) Using tables on your calculator, determine, to the nearest whole year, the value of t that (d) What does the value of t that you found in part (c) represent about Ian's investment? solves the equation A(t) 5000. Justify your answer with numerical evidence.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...

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