Question

The value, y, of a $15,000 investment over x years is represented by the equation y=15000(1.2)x/3. What is the profit(interest) on a 6-year investment?

Answer 1

replace \(x\) by 6 and see what you get
\[15,000(1.2)^{\frac{6}{3}}=15,000(1.2)^2\] then a calculator

Answer 2

i get 21600 so the interest increase is \(21,600-15,00\)

Answer 3

THANKS

Answer 4

yw