What is the graph of the function and the future value?

Question

use the formula S=P(1+r)^t

a) graph the function that gives the future value of $56,000 invested at 9% compounded annually for t years.

b) find the future value of $56,000 invested for 13 years at 9% compounded annually.

Answer 1

Graph the function by plotting some points 

 

When t = 0 then S = 56000(1.09)⁰ = 56000

When t = 1 then S = 56000(1.09)¹ = 61040

When t = 2 then S = 56000(1.09)² = 66533.6

When t = 3 then S = 56000(1.09)³ = 72521.62

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When t = 13 then S = 56000(1.09)¹³ = 171685.06