Algebra: A Combined Approach (4th Edition)

Published by Pearson
ISBN 10: 0321726391
ISBN 13: 978-0-32172-639-1

Chapter 12 - Section 12.3 - Exponential Functions - Exercise Set - Page 863: 46



Work Step by Step

Solve using the formula $A=P(1+\frac{r}{n})^{nt}$ as instructed. Identify values from the problem: $P=3000$ $r=0.1$ $n=4$ $t=5$. Substitute values into the formula: $A=3000(1+\frac{0.1}{4})^{20}≈4915.85$.
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