Suppose you invest $7500. After 4 years, the investment has grown to $10,000. Assuming the growth is modelled by $Q = Pe^{kt}$, write the equation to model the amount in the account after $t$ years.
Added by Colleen C.
Close
Step 1
Step 1: We are given the initial investment P = $7500 and the amount after 4 years Q = $10,000. Show more…
Show all steps
Your feedback will help us improve your experience
Laura Skalaski and 84 other Precalculus educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
You deposit $\$500$ in an account that pays 4% interest compounded yearly. Complete this equation to write an exponential growth model for the balance after t years: $A=?(1+?)^{t}$
Exponents and Exponential Functions
Exponential Growth Functions
The amount $A$ accumulated after 1000 dollars is invested for $t$ years at an interest rate of 4$\%$ is modeled by the function $A(t)=1000(1.04)^{t} .$ a. Find the amount accumulated after 5 years and 10 years. b. Determine how long it takes for the original investment to triple.
Functions and Graphs
Exponential and Logarithmic Functions
Recommended Textbooks
Precalculus with Limits
Precalculus
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD