Question

A certain quantity grows exponentially over time. The initial quantity at t = 0 is 2,000. The quantity grows by a factor of 20%. What is the quantity at t = 8?

Answer 1

The quantity at t=8 is $8,599.63

Answer 2

The equation says
A=p(1+r)^t
A=2,000×(1+0.20)^(8)
A=8,599.63