Question

ONE MORE
Exponential Equations


Mr. Clay has $2000 to invest for a trip to Hawaii. The bank gives 6% interest compounded monthly. He needs $2500 for the trip.

a) Write an exponential equation to model this information.

b) How long will it take for him to have $2500?
ONE MORE
Exponential Equations


Mr. Clay has $2000 to invest for a trip to Hawaii. The bank gives 6% interest compounded monthly. He needs $2500 for the trip.

a) Write an exponential equation to model this information.

b) How long will it take for him to have $2500?
@Mathematics

Answer 1

Help PLEASE!

Answer 2

no

Answer 3

No what ?!

Answer 4

no help for you

Answer 5

Awww that is mean -_-! :( Fine be like that. But i really didn't ask u personally to help me :) Let u know :P~~

Answer 6

\[P(1+r)^{t}\] Therefore \[2000(1+.06)^{t}=2500\] All you need to do at this point is solve for the variable t to find how many periods it would take for the balance to reach 2500 dollars.

Answer 7

Okay thank u ! Derplin :)!!!