Q:

Shota invests $2000 in a certificate of deposit that earns 2%, percent in interest each year. Write a function that gives the total value V(t) in dollars, of the investment t years from now.

Accepted Solution

A:
For this case we have a function of the form:
 y = A (b) ^ t
 Where,
 A: initial amount
 b: growth rate
 t: time
 Substituting values we have:
 V (t) = 2000 (1.02) ^ t
 Answer:
 a function that gives the total value V (t) in dollars, of the investment t years from now is:
 V (t) = 2000 (1.02) ^ t