An initial investment of $6000 grows at 5% per year. What function represents the value of the investment after t years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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An initial investment of $6,000 grows at 5% per year. What function
represents the value of the investment after t years?
f (1) = 6000(1.05)'
f (t) = 6000(5)'
O f(1) = 6000(.05)'
f (1) = 6000(0.95)'
Transcribed Image Text:An initial investment of $6,000 grows at 5% per year. What function represents the value of the investment after t years? f (1) = 6000(1.05)' f (t) = 6000(5)' O f(1) = 6000(.05)' f (1) = 6000(0.95)'
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