(6) When David was born, his grandparents deposited $10,000 in a college account that promised 6% interest compounded monthly for 18 years. Which of the following equations shows the worth of the account when David is 18? (C) A = 10000x(1.06)18 (D) A = 10000x(1.06)® (A) A = 10000x(1.06)x(18) %3D 18x12 (B) A = 10000x(1.005)(18×12) %3D
(6) When David was born, his grandparents deposited $10,000 in a college account that promised 6% interest compounded monthly for 18 years. Which of the following equations shows the worth of the account when David is 18? (C) A = 10000x(1.06)18 (D) A = 10000x(1.06)® (A) A = 10000x(1.06)x(18) %3D 18x12 (B) A = 10000x(1.005)(18×12) %3D
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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