the original value of an investment is $1,800. if the value has increased by 7% each year, write an exponential to model the situation. then, find the value of the investment after 15 years
For this case we have an equation of the form: y = A (b) ^ t Where, A: initial amount b: growth rate t: time Substituting values we have: y = 1800 * (1.07) ^ t For 15 years we have: y = 1800 * (1.07) ^ 15 y = 4966.256773 $ Answer: An exponential to model of the situation is: y = 1800 * (1.07) ^ t the value of the investment after 15 years is: y = 4966.256773 $
