Answer:
The exponential equation is;
F = 30,000(1.01)^30
The value is;
$40,435.50
Step-by-step explanation:
Here, we are to write an exponential equation
Exponential equations generally take the form;
F = I(1 + r)^t
where F is the future value
I is the initial value
r is the growth percentage
t is the time
with respect to the question;
F = ?
I = 3,000
t = 30
r = 10% = 10/100 = 0.1
Writing the equation, we have
F = 30,000(1.+ 0.1)^30
F = 30,000(1.01)^30
F = $40,435.50
