6) Sam opened a bank account with an interest rate of 4.8% that is compounded annually. He invested $3,890 in the account in 1999 but had to make a withdrawal from his account in 2007 in the amount of $2,300 with no penalty. How much money is in his account now, in 2016?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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6) Sam opened a bank account with an interest rate of 4.8% that is compounded annually. He invested
$3,890 in the account in 1999 but had to make a withdrawal from his account in 2007 in the amount
of $2,300 with no penalty. How much money is in his account now, in 2016?
S oftware
A II rights
Made w it h
Infinite Algebra 2.
O201 6
Kuta
LLC.
reserved
Transcribed Image Text:6) Sam opened a bank account with an interest rate of 4.8% that is compounded annually. He invested $3,890 in the account in 1999 but had to make a withdrawal from his account in 2007 in the amount of $2,300 with no penalty. How much money is in his account now, in 2016? S oftware A II rights Made w it h Infinite Algebra 2. O201 6 Kuta LLC. reserved
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