Question

you invest $4000 for five years in the interest rate is 4.29% each year what is the exponential equation

Answer 1

The exponential equation is for the above mentioned condition can be given as A = 4000 $( 1+\frac{4.29}{n} )^{5n}$

Step-by-step explanation:

Given:

The amount that has to be invested $4000. So we can consider that as principle amount,So

Principle amount = $4000

Rate = 4.29%

To Find:

Frame Exponential equation

Solution:

So we can express the amount in the equation form as:

                                            A = P $( 1+\frac{r}{n} )^{nt}$

                                            A = 4000 $( 1+\frac{4.29}{n} )^{5n}$

Where, n= number of times interest rate is compounded per unit year.

Thus the resultant equation thus obtained is                                                                         A = 4000 $( 1+\frac{4.29}{n} )^{5n}$