Answer
$\$591,230$
Work Step by Step
We need to compute the value of $S$ where the initial value is $510,000$, the rate is $0.03$, and $t=5$.
$S=510,000(1+0.03)^{5}\approx591,230$
College Algebra (6th Edition)
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0-32178-228-3
ISBN 13:
978-0-32178-228-1
Chapter 4 - Exponential and Logarithmic Functions - Exercise Set 4.1 - Page 453: 68
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