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Julie is opening a savings account at a bank that offers new clients 0.1% interest compounded quarterly. She deposits $1,700 when she opens the account.

Write an exponential expression in the form a(b)c, where b is a single value, to find the amount of money, in dollars, that will be in the account after t years. Round any decimals to the nearest hundred-thousandth and do not include dollar signs in the expression.

Julie is opening a savings account at a bank that offers new clients 01 interest compounded quarterly She deposits 1700 when she opens the account Write an expo class=

Respuesta :

The question can be solved using formula an = a1(1 + r)^n where n is the number of years, r is the interest rate and a is the initial amount. 
The value of  the variable would be:
a= initial amount = $1,700
r= interest= 0.1%= 0.001
n= number of year =t

Since the interest compounded quarterly then the function will become.
an = a1(1 + 1/4r)^4n
an=  $1,700(1+0.00025)^4t
an=  $1,700(1.00025)^4t

The function expressed as a(b)^c would be:
a=  $1,700
b= 1.00025
c= 4t

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