precalculus

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the value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. The value of your investment t years after 2000 is given by the exponential growth model A= 6200e^(0.018(t)). When will the account be worth $9550?

  • precalculus -

    just solve
    9550 = 6500e^(.18t) for t years
    t = 2.137 years from 2000

    Just when the amount is reached depends on how often the increase is applied.

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