Laura invest $300 into an account with an interest rate of 4% compounded annually. Write an exponential function to represent th
is situation
1 answer:
The exponential function that represents the future value of the investment is $300(1.04)^t.
<h3>What is the exponential function?</h3>
The exponential function that can be used to determine the future value of the investment is:
FV = P (1 + r)^nm
- FV = Future value
- P = Present value
- R = interest rate
- m = number of compounding
- N = number of years
$300(1.04)^t.
Where t represents number of years
To learn more about future value, please check: brainly.com/question/18760477
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