A person invests $3500 in an account at 4% interest compounded annually. Let V=f(t) be the value (in dollars) of the account after t years or any fraction thereof. a. Find an equation of f. b. What is the V-intercept? What does it mean in this situation? c. What will be the value of the investment in five years? d. When will the value of the investment be $5500?
A person invests $3500 in an account at 4% interest compounded annually. Let V=f(t) be the value (in dollars) of the account after t years or any fraction thereof. a. Find an equation of f. b. What is the V-intercept? What does it mean in this situation? c. What will be the value of the investment in five years? d. When will the value of the investment be $5500?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.1: Writing Equations In Slope-intercept Form
Problem 24PPS
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