Answer:
$8,029.91
Step-by-step explanation:
You have to use the exponential growth equation:
A=P(1+r)^t
Where A is the final amount, P is the initial amount, r is the rate of increase, and t is the time in years. So:
A=6,600(1+0.04)^5
(The rate has to be changed into a decimal)
Then, just plug this equation into a calculator (without the A= part, so just 6,600(1+0.04)^5) and you'll get the answer.
How many jumps is it from the decimal point to the position to the right of the 6
The answer to that is 3 jumps. Since the move of the decimal made the number larger than it really is, it will take a negative value to put it back where it belongs.
So A) is the correct answer. It is in scientific notation and if you move the decimal back 3 place you get the number you stared with.
Step-by-step explanation:
wait, I will look my lecture last year
