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A $2500 investment earns 8% interest, compounded quarterly (4 times a year). a) Write an equation for the value of the investment as a function of time, V (t), witht in years. b) How long will it take for the investment to be worth $4000? c) Change the base of the power so its exponent is just "t".

A $2500 investment earns 8% interest, compounded quarterly (4 times a year). a) Write an equation for the value of the investment as a function of time, V (t), witht in years. b) How long will it take for the investment to be worth $4000? c) Change the base of the power so its exponent is just "t".

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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A $2500 investment earns 8% interest, compounded quarterly (4 times a year). a) Write an equation for the value of the investment as a function of time, V (t), witht in years. b) How long will it take for the investment to be worth $4000? c) Change the base of the power so its exponent is just "t".
Transcribed Image Text:A $2500 investment earns 8% interest, compounded quarterly (4 times a year). a) Write an equation for the value of the investment as a function of time, V (t), witht in years. b) How long will it take for the investment to be worth $4000? c) Change the base of the power so its exponent is just "t".
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