## Functions Modeling Change: A Preparation for Calculus, 5th Edition

The original value is 100,000 dollars; so $a=100,000$. Using the fact that $r=3\%=0.03$, $1+r=1.03$. Therefore, the equation must be $f(t)=100,000(1.03^t)$ Inputting $t=3$ into the function yields $$f(3)=100,000(1.03^3)=109,272$$