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:

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Answer:
2 11/12 mixed number
Step-by-step explanation:
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Answer:
The present value of K is,
Step-by-step explanation:
Hi
First of all, we need to construct an equation system, so


Then we equalize both of them so we can find 

To solve it we can multiply
to obtain
, then we have
.
This leads to a third-grade polynomial
, after computing this expression, we find only one real root
.
Finally, we replace it in (1) or (2), let's do it in (1) 