To write and solve an exponential equation to determine when the balance of the account will be
Answer to Problem 49E
Explanation of Solution
Given information:
Given the deposit of
Since we have principal amount
Interest amount after first year
So after first year, the amount in saving account is
Similar way after second year, the amount in saving account is
In general after
Since
Thus,
To determine after which year
The deposited amount (principal amount) becomes
Therefore, after
Hence,
Chapter 6 Solutions
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