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Question

# For each function, find the amount of money Margaret would have in her account after 10 years and after 20 years.

Solution

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Step 1
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$\begin{equation*} A(t) = 10000 \cdot (1.05)^t \end{equation*}$

$\begin{equation*} A(10) = 10000 \cdot (1.05)^{10} \end{equation*}$

$\begin{equation*} A(10) = 10000 \cdot (1.629) = 16290 \end{equation*}$

$\begin{equation*} A(20) = 10000 \cdot (1.05)^{20} \end{equation*}$

$\begin{equation*} A(20) = 10000 \cdot (2.653) = 26530 \end{equation*}$

Substitute t = 10 and 20 and solve for $A(t)$.

a. For $P = 10000$.

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