After winning $73,000 on a game show, Jasmine invests the money in a fixed-rate account offering 7.2% interest
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Assuming compount interest format
for compounded per 1 year
A=future amount
P=present amount
r=rate in decimal
t=time in years
given
P=270
r=5%=0.05
the equaton is
or
for any year, 2009, is year 0, so if you wanted to input the year then
would be for t=what year it was
A.
b. 2009 to 2020
2020-2009=11 years
t=11
f(11)=461.792
about 462 cranes
A.
B. about 462
A=future amount
P=present amount
r=rate in decimal
t=time in years
given
P=270
r=5%=0.05
the equaton is
for any year, 2009, is year 0, so if you wanted to input the year then
A.
b. 2009 to 2020
2020-2009=11 years
t=11
f(11)=461.792
about 462 cranes
A.
B. about 462