Question

16. If you deposit $5,000 in an account that pays 5% interest compounded annually, how much money will you have in your account at the end of 15 years? Write an exponential function that represents this situation.

Answer 1

if i did it right i came out with 5263.16 (rounded)

Answer 2

Did you use this formula?

\[\LARGE A = P*\left(1+\frac{r}{n}\right)^{n*t}\]

Answer 3

so p would be the percent
a is what ever number i get
n is the years????
and r is the first amount (5000)????
and t idk what t would be

Answer 4

P = principal = amount deposited = 5000
r = interest rate in decimal form = 0.05
n = number of times you compound a year = 1 (annual compounding = 1 time a year)
t = 15 years

Answer 5

In summary of the values you plug in
P = 5000
r = 0.05
n = 1
t = 15

Answer 6

i got 10400 when i did that

Answer 7

thank you so much

Answer 8

can you help me out with this one also

\[a ^{m}\times a ^{3}= \frac{ 1 }{ a ^{2} }\]
it ask me what a is and im confuse because a can be anything right?

Answer 9

are you sure it's not asking about m? Or is it asking about restrictions on 'a'?

Answer 10

yes im sure, I thought it did at first but when i reread it was a

Answer 11

well the exponents m and 3 add up to m+3

so we have

a^(m+3) = 1/(a^2)
a^(m+3) = a^(-2)

which means m+3 = -2 leading to m = -5

If m = -5, then 'a' can be any number you want as long as 'a' is not zero

Answer 12

I'm not sure what your teacher is looking for to be honest

Answer 13

yea i know I can email her in the morning and ask if she meant m and not a

Answer 14

thank you

Answer 15

no problem