nt 1. For his dream car, Ethan invested $10000 at 9.6% annual interest rate, compounded monthly. A = A₂(1 + — "t a) What is the price range of a car that Ethan can afford after 10 years? b) How many years will Ethan have to wait for this investment to triple? Algebraic solutions only.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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= A (1 + = ¹²
1. For his dream car, Ethan invested $10000 at 9.6% annual interest rate, compounded monthly. A =
a) What is the price range of a car that Ethan can afford after 10 years?
b) How many years will Ethan have to wait for this investment to triple? Algebraic solutions only.
Transcribed Image Text:= A (1 + = ¹² 1. For his dream car, Ethan invested $10000 at 9.6% annual interest rate, compounded monthly. A = a) What is the price range of a car that Ethan can afford after 10 years? b) How many years will Ethan have to wait for this investment to triple? Algebraic solutions only.
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