Question

Sofia invested $360 in an account in the year 2005, and the value has been growing exponentially at a constant rate. The value of the account reached $420 in the year 2009. Determine the value of the account, to the nearest dollar, in the year 2015.

Name: sofia invested 360 in an account in the year 2005 and the value has been growing exponentially at a constant rate the value of the account reached 420 in the year 2009 determine the value of 73803
Uploaded: 2023-05-25T01:05:29-08:00
Duration: 6 min 17 s
Channel: Aparna Shakti
Description: sofia invested 360 in an account in the year 2005 and the value has been growing exponentially at a constant rate the value of the account reached 420 in the year 2009 determine the value of 73803

          Sofia invested $360 in an account in the year 2005, and the value has been growing exponentially at a constant rate. The value of the account reached $420 in the year 2009. Determine the value of the account, to the nearest dollar, in the year 2015.

Added by Joseph C.

Precalculus with Limits

Ron Larson 2nd Edition

Instant Answer

Solved by Expert Aparna Shakti

05/25/2023

Step 1

We can use the formula for exponential growth: A = P(1 + r)^t where A is the final amount, P is the initial amount, r is the annual growth rate, and t is the number of years. We know that P = $360, A = $420, and t = 4 (since the account grew from 2005 to 2009). Show more…

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Sofia invested $360 in an account in the year 2005, and the value has been growing exponentially at a constant rate. The value of the account reached $420 in the year 2009. Determine the value of the account, to the nearest dollar, in the year 2015.