In 2014 TabaSue had a $2,500 savings bond that had reached maturity and she invested $3,000 in a savings account that paid 4% interest compounded annually. The formula that can be used to represent the growth of TabaSue's savings can be modeled by A(t) = 2500 + 3000(1.04) where A(t) is the accrued value of the investments t years after 2014. Use this information to answer the following: Determine the accrued value of TabaSue's investmen ts in the year 2029. Round your answers to two decimal places. In the year 2029, the accrued value of TabaSue's investments will be $ Determine in what year TabaSue's investmen ts will reach an accrued value of $9,336.30. Round your answer to the nearest year. TabaSue's investment will reach $9,336.30 in the year
In 2014 TabaSue had a $2,500 savings bond that had reached maturity and she invested $3,000 in a savings account that paid 4% interest compounded annually. The formula that can be used to represent the growth of TabaSue's savings can be modeled by A(t) = 2500 + 3000(1.04) where A(t) is the accrued value of the investments t years after 2014. Use this information to answer the following: Determine the accrued value of TabaSue's investmen ts in the year 2029. Round your answers to two decimal places. In the year 2029, the accrued value of TabaSue's investments will be $ Determine in what year TabaSue's investmen ts will reach an accrued value of $9,336.30. Round your answer to the nearest year. TabaSue's investment will reach $9,336.30 in the year
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 23E
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Transcribed Image Text:Evaluating and Solving Exponential Functions
In 2014 TabaSue had a $2,500 savings bond that had reached maturity and she invested $3,000 in a savings
account that paid 4% in terest compounded annually. The formula that can be used to represent the growth
of TabaSue's savings can be modeled by A(t)
2500 + 3000(1.04) where A(t) is the accrued value of
the investments t years after 2014. Use this information to answer the following:
Determine the accrued value of TabaSue's investments in the year 2029. Round your answers to two
decimal places.
In the year 2029, the accrued value of TabaSue's investments will be $
Determine in what year TabaSue's investments will reach an accrued value of $9,336.30. Round your answer
to the nearest year.
TabaSue's investment will reach $9,336.30 in the year
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