TabaSue invested $16, 200 dollars in a savings account that paid 5.1% interest compounded annually. Write the exponential equation A that represents TabaSue's investment where A is the accrued value of her savings and t is the time of the investment in years. A = Determine how much money TabaSue will have after 18 years. Answer: After 18 years, TabaSue will have dollars in her savings account. (Round to the nearest penny/cent.) Determine how long it will take for TabaSue's investment to double. Answer: TabaSue's investment will have doubled in value after years. (Round to the nearest tenth.) Submit Question
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The problem asks us to first write an exponential equation for the investment, then calculate the value of the investment after 18 years, and finally determine the time it takes for the investment to double. The initial investment (principal) P = $16,200. The Show more…
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