Mathematics, 17.09.2021 14:00 s6054682
Charlie has worked hard all summer to earn money. She has found an investment that will pay her 3% each year. At the end of the first year Charlie will have $5,000 in the investment.
Write an explicit function that represents Charlie’s investment.
**Remember what the common ratio should be**
m(t)=.03^t+5,000m(t)=.03
t
+5,000
m(t)=5,000(1.03)^{t-1}m(t)=5,000(1. 03)
t−1
m(t)=1.03^t+5,000m(t)=1.03
t
+5,000
m(t)=0.97^t\cdot5,000m(t)=0.97
t
⋅5,000
Answers: 3
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