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