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mylen [45]
2 years ago
7

Write an exponential equation that represents the given situation. You invest $1000 and it increases 12% each year. Can you teac

h me it because i need to show my work, thank you
Mathematics
1 answer:
IrinaK [193]2 years ago
8 0

Answer:

FV= 1,000*(1.12^n)

Step-by-step explanation:

Giving the following information:

Initial investment= $1,000

Increase rate= 12% = 0.12

We need to formulate an exponential equation to show the value in n years.

<u>To calculate the Future Value, we need to use the following formula:</u>

FV= PV*(1+i)^n

Being:

FV= Future Value

PV= Initial Investment

i= increase rate

n= number of periods

FV= 1,000*(1.12^n)

<u>For example, for one year:</u>

FV= 1,000*(1.12^1)

FV= $1,120

For 3 years:

FV= 1,000*(1.12^3)

FV= $1,404.93

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