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Math-Exponential functions

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An investment of $5,000 is made with three options:6% coumpounded annually, quarterly, and continuously.
1.) Create three functions
2.)What will be the value of each investment after 40 years?
3.)Which of the three investments will grow to a value of $30,000?
4.)What will be the value of each investment in 2024?

  • Math-Exponential functions - ,

    a) amount = 5000(1.06)^n , n in years
    b) amount = 5000(1.015)^(4n) , n in years
    c) amount = 5000(e^(.06n) ) , n in years

    2. number crunch, if n = 40

    3. look at results of #2

    4. depends on your "reference year"
    If your "now" is 2012, then n = 2024-2012 = 12

  • Math-Exponential functions - ,

    For part 2, A(t)= $51,429
    C(t)= $55,116

    For part 3, I meant when will each of the 3 investments grow to a value of $30,000. So, if I graphed the functions and look at the tables, would it help me determine the years?

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