A principal of 250 OR is deposited in an account that pays 0.064 interest compounded yearly. Account balance function in response of time (years)is f(x) = P(1+r)* P: initial value r: interest compounded yearly x: time in year a. Find the account balance after 5 years. b. By graphing show if the Account balance function is increasing or decreasng. c. After how many years the account balance will be 12000 OR.

A principal of 250 OR is deposited in an account that pays 0.064 interest compounded yearly. Account balance function in response of time (years)is f(x) = P(1+r)* P: initial value r: interest compounded yearly x: time in year a. Find the account balance after 5 years. b. By graphing show if the Account balance function is increasing or decreasng. c. After how many years the account balance will be 12000 OR.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A principal of 250 OR is deposited in an account that pays 0.064 interest compounded
yearly. Account balance function in response of time (years)is f(x) = P(1+r)*
P: initial value
r: interest compounded yearly
x: time in year
a. Find the account balance after 5 years.
b. By graphing show if the Account balance function is increasing or decreasng.
c. After how many years the account balance will be 12000 OR.

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