Jason invests $6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year 1.7% for each extra year. Work out the value of Joan's investment at the end of 3 years.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Jason invests $6000 in a savings account.
The savings account pays compound interest at a rate of 2.4% for the first year 1.7% for each extra year.
Work out the value of Joan's investment at the end of 3 years.
Transcribed Image Text:Jason invests $6000 in a savings account. The savings account pays compound interest at a rate of 2.4% for the first year 1.7% for each extra year. Work out the value of Joan's investment at the end of 3 years.
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