Question

Write write an exponential growth function for the following situation you are depositing $5,000 into a bank with an interest rate of 9% for x years

Answer 1

$\bf \qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &5000\\ r=rate\to 9\%\to \frac{9}{100}\dotfill &0.09\\ t=\textit{elapsed time}\dotfill &x\\ \end{cases} \\\\\\ A=5000(1+0.09)^x\implies A=5000(1.09)^x$