Question

Jennifer starts a new investment account that grows exponentially. Her financial advisor tells her

Answer 1

The exponential function is given by $I(t) = 50000(1.15)^t$. The initial investment of $50,000 grows at a rate of about 15% annually.

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

An exponential function is in the form:

y = abˣ

Where a is the initial value and b is the rate of increase per period.

Let I(t) represent Jennifer’s investment account balance after t years, hence:

a = 50000, b = 100% + 15% = 115% = 1.15

$I(t) = 50000(1.15)^t$

The exponential function is given by $I(t) = 50000(1.15)^t$. The initial investment of $50,000 grows at a rate of about 15% annually.

Find out more on equation at: brainly.com/question/2972832

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