The interest on an account increases exponentially. If an initial investment of $4000 earns $1300 in three years, what is the rate of increase at the end of that year? O $510.11 $503.72 O $497.14 O $475.00

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 1SE: Explain why the values of an increasing exponentialfunction will eventually overtake the valuesof...
icon
Related questions
Question

Please explain how to solve thank you!

The interest on an account increases exponentially.
If an initial investment of $4000 earns $1300 in three years, what is the rate of increase at the end of that year?
$510.11
$503.72
$497.14
$475.00
Transcribed Image Text:The interest on an account increases exponentially. If an initial investment of $4000 earns $1300 in three years, what is the rate of increase at the end of that year? $510.11 $503.72 $497.14 $475.00
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning