vanessa invested $2500 into an account that will increase in value 3.5% each year. write an exponential function, then find the value of the investment after 20 years

Question

Mathematics

Lincoln Cochran

1 June, 19:25

vanessa invested $2500 into an account that will increase in value 3.5% each year. write an exponential function, then find the value of the investment after 20 years

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Virginia Nolan · Answer 1

Answer: A = 2500 (1.035) ^n

A = $ 4,974.47

Step-by-step explanation:

A=P (1+r) ^n

A = Amount

P = Principal

R = rate

N = # of years

A = 2500 (1.035) ^n

N=20

2500 (1.035) ^20

A = 4,974.47