The function \(f ( x ) = 5,000 \cdot 1.05 ^ { x }\) models an investment of \(\$ 5,000\) earning \(5 \% \) annually. Identify and interpret the values of a and \(b .\) What is the balance of the investment after \(15\) years, assuming no further deposits or withdrawals?
Pregunta
Answer
a = principal
b = growth factor
f(x)= 5000×1.05^{15}= $10,394.6409
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