Mathematics, 21.04.2020 22:23 samymaria1344
Tony is evaluating his retirement savings. He currently has $318,000 in his account which earns an interest rate of 7% compounded annually. He wants to determine how much he will have in the account in the future, even if he makes no additional contributions to the account.
1) Write a function, A(t), to represent the amount of money that will be in his account in t years.
2) Graph A(t) where 0≤t≤20 on a set of axes
3) Tony's goal is to save $1,000,000. Determine algebraically, to the nearest year, how many years it will take for him to achieve his goal.
4) Explain how your graph of A(t) confirms your answer.
Answers: 2
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Tony is evaluating his retirement savings. He currently has $318,000 in his account which earns an i...
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