Mr Lee keeps 1000 USD in a bank. The amount of money rises by W = 1000(1.09)t after t years. Calculate: 1) The amount of money after 5 years. 2) The time is taken, t, in years, for the money to rise from 1000 USD to 1200 USD.
Mr Lee keeps 1000 USD in a bank. The amount of money rises by W = 1000(1.09)t after t years. Calculate: 1) The amount of money after 5 years. 2) The time is taken, t, in years, for the money to rise from 1000 USD to 1200 USD.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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Mr Lee keeps 1000 USD in a bank. The amount of money rises by W = 1000(1.09)t after t years. Calculate:
1) The amount of money after 5 years.
2) The time is taken, t, in years, for the money to rise from 1000 USD to 1200 USD.
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