Given interest of $10,510 at 12 percent for 30 days one can calculate the principal as:
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Using an exponential function, it is found that you would have $10,240 after 18 years.
<h3>What is an exponential function?</h3>An increasing exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the growth rate, as a decimal.
Considering the initial value of $2,500, and the growth rate of 60% every 6 years, the equation is given by:
Hence, after 18 years, the amount is given by:
More can be learned about exponential functions at brainly.com/question/25537936
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