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Varvara68 [4.7K]
3 years ago
6

You invest $1700 in an account that earns 1.3% interest compounded daily. Write an equation to model the amount of money at any

given time.
Please give an explanation but detailed as possible. I would like to learn how to solve word problems like these and improve on my math. I wan to get better so I can peruse my dream of being an engineer, and math is an important concept to it, so I would highly appreciate some help so I can learn :D
Mathematics
1 answer:
Ivahew [28]3 years ago
7 0

the equation goes like this

y = ab^x

y = total cost

a = the intital amount (in your case the $1700)

b = the interest (since this is an exponetial growth it should be 1.013)

x = time

soo y = 1700(1.013)^x is the equation

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