The balance in a bank account with an annual interest rate of 2%, compounded annually, can be represented using the function f(t) = 1000(1.02), where t is the time in years after opening the 1 account. What was the approximate account balance 6 years and 3 months, or 6- years, after 4 the account was opened?
The balance in a bank account with an annual interest rate of 2%, compounded annually, can be represented using the function f(t) = 1000(1.02), where t is the time in years after opening the 1 account. What was the approximate account balance 6 years and 3 months, or 6- years, after 4 the account was opened?
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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9. The balance in a bank account with an annual interest rate of 2%, compounded annually, can be
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9. The balance in a bank account with an annual interest rate of 2%, compounded annually, can be
represented using the function f(t) = 1000(1.02), where t is the time in years after opening the
%3D
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account. What was the approximate account balance 6 years and 3 months, or 6- years, after
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the account was opened?
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