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Suppose one of your ancestors invested $500 in 1800 in an account paying 4% interest compounded annually.Write an exponential function to model the situation.Find the account balance in each of the following year.


a. 1850

b. 1900

c. 2000

d. 2100
 Dec 9, 2012

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f(year) = $500*1.04^(year-1800)

where year is the year and f is the balance at the end of that year.
 Dec 9, 2012

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