Respuesta :
Answer:
y = 66646.4
Step-by-step explanation:
Exponential Functions:
y=ab^x
a = starting value = 7100
r = rate = 7.75% = 0.0775
Exponential Growth:
b = 1 + r = 1 + 0.0775 = 1.0775
Write Exponential Function:
y = 7100(1.0775)^x
Plug in time for x:
y = 7100(1.0775)^30
y = 66646.4028163
y = 66646.4
From the interest rate given, the amount that will be in the account will be $66646.4.
How to calculate the amount
The Exponential Function is y=abˣ
where,
a = starting value = 7100
r = rate = 7.75% = 0.0775
x = number of years = 30
The exponential growth will be:
b = 1 + r =
= 1 + 0.0775
= 1.0775
Then, the exponential function will be:
y = 7100(1.0775)ˣ
y = 7100(1.0775)³⁰
y = 66646.4
In conclusion, the amount in the account will be $66646.4.
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