In 2014 TabaSue had a $2,500 savings bond that had reached maturity and she invested $3,000 in a savings account that paid 4% interest compounded annually. The formula that can be used to represent the growth of TabaSue's savings can be modeled by A(t) = 2500 + 3000(1.04) where A(t) is the accrued value of the investments t years after 2014. Use this information to answer the following: Determine the accrued value of TabaSue's investmen ts in the year 2029. Round your answers to two decimal places. In the year 2029, the accrued value of TabaSue's investments will be $ Determine in what year TabaSue's investmen ts will reach an accrued value of $9,336.30. Round your answer to the nearest year. TabaSue's investment will reach $9,336.30 in the year
In 2014 TabaSue had a $2,500 savings bond that had reached maturity and she invested $3,000 in a savings account that paid 4% interest compounded annually. The formula that can be used to represent the growth of TabaSue's savings can be modeled by A(t) = 2500 + 3000(1.04) where A(t) is the accrued value of the investments t years after 2014. Use this information to answer the following: Determine the accrued value of TabaSue's investmen ts in the year 2029. Round your answers to two decimal places. In the year 2029, the accrued value of TabaSue's investments will be $ Determine in what year TabaSue's investmen ts will reach an accrued value of $9,336.30. Round your answer to the nearest year. TabaSue's investment will reach $9,336.30 in the year
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter5: Exponential And Logarithmic Functions
Section5.2: Applications Of Exponential Functions
Problem 45E
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