Question

$1500 at 9% for 2 years

Answer 1

Answer:

Step-by-step explanation:

You basicly want to use A=pe^rt to find the amount of money you now have. A is the total amount of money you have after a certian period of time (T) while your money grows at a steady rate (R). (E) is an irrational number 2.71828. (P) is the amount of money you started with. Your precentage is your rate and this means you earn 9% of what you have per year. The way the problem would be set up A=1500(2.71828)^(.09)(2). This problem allows for exponential growth to occur because your two variables are time and the amount you have in that time.