the tallest tree in the forest is 150 feet from the water tower. unfortunatly in a lightning storm the tallest tree was struck a
nd caught on fire. the ranger needs to go from his tower to the water tower to get the water to put out the fire. how far is it from the rangers tower to the water tower
1 answer:
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The value of $500 after four years is $610
<u>Step-by-step explanation:</u>
It is given that, the value of $500 increases at a rate of 5% per year.
The exponential formula is given by .
where,
- a is the initial amount.
- b is the growth factor .
The growth factor b is replaced by either (1 + r) or by (1 - r).
where, r is the rate per year.
b= (1+r) represents the increase in growth rate.
b= (1-r) represents the decrease in growth rate.
Here, the growth rate is increased. So the formula is given by
where,
- The initial amount, a = 500.
- Rate, r = 5% = 5/100 = 0.05
- Number of years, n= 4.
- y = value of the item after 4 years
<u>To find y value :</u>
⇒
⇒
⇒
⇒
Therefore, the value of the item after four years is $610.