Modeling exponentials

Question

EndersWorld · Answer

An investment of $75,000 increases at a rate of 12.5% annually. Write the function that models the scenario, and then find the value of the investment after 30 years.

EndersWorld · Answer

I can’t quite remember the formula...

Angle · Answer

EndersWorld · Answer

A=75,00p(1+12.5/30)$$^{30}$$

EndersWorld · Answer

That exponent of 30 needs to be beside the formula XD

Angle · Answer

kinda
I think we need to write the percent as a decimal

that is, 12.5 percent = 0.125

EndersWorld · Answer

Gotcha. So .125/30

Angle · Answer

well "n" in the picture = number of times repeated in a year
not the number of years
so n = 1

EndersWorld · Answer

$$75,000(1+.125)^\[{30}$$

EndersWorld · Answer

$$75,000(1+.125)^{30}$$

Angle · Answer

good good ^_^

I think this question has two parts
the first part is to leave (t) where the 30 is for the time being

then the second part is to plug in 30

Angle · Answer

but you've got the idea :)

EndersWorld · Answer

Do I just plug that into a calculator :0

Angle · Answer

yeah, pretty much
it's too ugly to do by hand :P

EndersWorld · Answer

Far to ugly, especially with that $$^{30}$$

Angle · Answer

haha yeah

EndersWorld · Answer

Did you plug it in?

EndersWorld · Answer

I wanna see if we got the same. I got 2,568,247.88

Angle · Answer

yup! that's what I got too