Need help solving

Question

you decide to invest 5?000 into an account with an annual interest rate of 6.5%.

A.) write an question to represent the balance of your account x years later

B.)what does this represent growth of decay? Explain.

C.)what is the balance of your account 10 years later?

D.)when will the investment be worth $10,000?

 

Answer 1

A.) A = p + prt

 

B.) Growth, every year the account has more money.

 

C.) A = 5000 + 5000(0.065)(10)

     A = 5000 + 3250

     A = 8250

 

D.) 10000 = 5000 + 5000(0.065)(t)

     5000 = 5000(0.065)(t)

     1 = 0.065t

     15.38 = t