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Jennifer starts a new investment account that grows exponentially. Her financial advisor tells her
the initial investment of $50,000 grows at a rate of about 15% annually.
1. Determine a function, I(t), that determines Jennifer’s investment account balance after t years. For the exponential growth function, what are the “a” and “b” values? What do those values represent? (5 points for the explanation of “a” and “b” and 5 points for the function)

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raphealnwobi

The exponential function is given by [tex]I(t) = 50000(1.15)^t[/tex]. The initial investment of $50,000 grows at a rate of about 15% annually.

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

An exponential function is in the form:

y = abˣ

Where a is the initial value and b is the rate of increase per period.

Let I(t) represent Jennifer’s investment account balance after t years, hence:

a = 50000, b = 100% + 15% = 115% = 1.15

[tex]I(t) = 50000(1.15)^t[/tex]

The exponential function is given by [tex]I(t) = 50000(1.15)^t[/tex]. The initial investment of $50,000 grows at a rate of about 15% annually.

Find out more on equation at: https://brainly.com/question/2972832

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