Suppose you deposit
$
400.00
$400.00 into a bank with
7
%
7% interest compounded annually. The amount in the account after
t
t years is given by
A
(
t
)
=
400
(
1.07
)
t
A(t)=400(1.07)
t
(in dollars).
What is the amount in the account after
9
9 years? Round to nearest cent.
$
$
Preview
How long does it take for the account to reach
$
1
,
500.00
$1,500.00? Round to
2
2 decimals.
years
