7100 dollars is placed in an account with an annual interest rate of 7.75%. How much will be in the account after 30 years, to the nearest cent? Write Exponential Function

Soluzione

Soluzione

Amount : 23607.5

Fasi della soluzione

Translate the problem into an equation:

A = 7100 (1 + 0.0775 \cdot 30)

7100 (1 + 0.0775 \cdot 30) = 23607.5

Amount : 23607.5

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