Question: Devise the exponential growth function that fits the given data; then answer the accompanying questions. Be sure to identify the reference point (t = 0)
Devise the exponential growth function that fits the given data; then answer the accompanying questions. Be sure to identify the reference point (t = 0) and units of time.
How long will it take an initial deposit of $1500 to increase in value to $2500 in a saving account with an APY of 3.1%? Assume the interest rate remains constant and no additional deposits or withdrawals are made.
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