Burt's grandparents started a savings account for him when he was born. They invested
1 answer:
Answer:
4594.76 USD will be in the account on Burt's 18th birthday.
Step-by-step explanation:
Since interest rate is constant in time, we can use the definition of composite interest to determine how much money will be on Burt's 18th birthday, that is:
(1)
Where:
- Initial amount, measured in US dollars.
- Current amount, measured in US dollars.
- Annual interest rate, measured in percentage.
- Time, measured in years.
If we know that ,
and
, then the money in the savings account on Burt's 18th birthday is:
4594.76 USD will be in the account on Burt's 18th birthday.
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Answer:
Step-by-step explanation:
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We know that the point (1,10) is on the graph of this function, so we can say.
Then the solution is:
Hope this helps.
Do not hesitate if you need further explanation.
Thank you