Lindsey H.

asked • 05/07/21

Elena's parents decide to invest $5000 into a college savings fund when she is born. If the account earns an interest rate of 7% per year, how many years will it take for the account to have $28,000?

Mark M.

Is the interest compounded or simple?
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05/07/21

Lindsey H.

I was not given that information but it's supposed to be an exponential function with the f(t)=5000(1.07^t)
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05/07/21

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