Investments Refer to Exercise 83. At the start of which year will an investment of $5,000 made at the beginning of 2007 first exceed $7,500?
Exercise 83:
Investments In 2007, E*TRADE Financial was offering 4.94% interest on its online savings accounts, with interest reinvested monthly. Find the associated exponential model for the value of a $5,000 deposit after t years. Assuming this rate of return continued for seven years, how much would a deposit of $5,000 at the beginning of 2007 be worth at the end of 2014? (Answer to the nearest $1.) HINT [See Example 9; you saw this exercise before in Section 1.2.]
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.