Question

13. A bank account balance starts with $100, has an annual growth
rate of 4%. The equation to describe the account balance is
0.04t
f(t)= 100e
a) How much money is in the account after 0 years?
b) How much money is in the account after 12 years?

Answer 1

Answer:

See below

Step-by-step explanation:

I THINK this is an account with continuous compouding,

   then the balance after 't' years is    100 e^(.04 t)

        at 0 years      100 e^(.04*0)  = 100 dollars

           12 years      100 e^(.04 * 12 ) = 161.61 dollars