Question: Introduction to exponential functions Question 4 A bank features a savings account that has an annual percentage rate of r = 4.8% with interest compounded

Introduction to exponential functions

Question 4 A bank features a savings account that has an annual percentage rate of r = 4.8% with interest compounded quarterly. Adrianna deposits $11,500 into the account. The account balance can be modeled by the exponential formula S(t) = P( 1+ _) , where S is the future value, P is the present value, r is the annual percentage rate written as a decimal, n is the number of times each year that the interest is compounded, and t is the time in years. (A) What values should be used for P, r, and n? P = n = (B) How much money will Adrianna have in the account in 10 years? Answer = $ Round answer to the nearest penny

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