Question

Write an exponential equation using y a(b) that

Answer 1

Answer:

$y = 160000 * (1.08)^t$

Step-by-step explanation:

Given

$a = 160000$ --- initial

$r =8\%$ --- rate

Required

The function over time

The function is calculated as:

$y = a(1 + r)^t$

So, we have:

$y = 160000 * (1 + 8\%)^t$

Express percentage as decimal

$y = 160000 * (1 + 0.08)^t$

$y = 160000 * (1.08)^t$