Question

Exponential functions

Answer 1

Answer:

2,323.23

Step-by-step explanation:

the interest will be 323.23 +your initial balance is what you will have in 5 years

Answer 2

In order to figure out the compound interest, you must first identify its equation which is: A = P(1+(r/n))^nt where A is the final amount, P is the initial amount, R is the interest rate, n is the number of times the interest is applied per period, and t is the number of periods. Plugging in your values would make the equation: A = 2000(1+(0.03/12))^(12•5) simplified would be A = 2323.23