Wednesday
April 23, 2014

Homework Help: exponential function

Posted by Jus on Sunday, May 17, 2009 at 7:14pm.

An investment pays 8% interest, compounded annually.

a) write an equation that expresses the amount, A, of the investment as a function of time, t, in years.

b) determine how long it will take for this investment to double in value and then to triple in value.

c) determine the percent increase in value of the account after 5 years and then after 10 years.

d) explain why the answers to parts b and c do not depend on the amount of the initial principal.

Can someone explain to me how to get started? I do not know where to start except for the fact that I need to make an exponential function.

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