applications of exponential functions

Algebra
Tutor: None Selected Time limit: 1 Day

Marshall invests $12,450.00 in a mutual fund which boasts a 5.7% annual return compounded semiannually. After 3 and a half years, Marshall decides to withdraw his money.

1.) How much is in his account?

2.) How much has he made in interest from his investment?

Show your work please

Apr 22nd, 2015

5.7 multiply by 1250000

the interst rate made is gotten as follos p[1-r]3

125000[1-0.057]3

Apr 21st, 2015

where did the 125000 come from

Apr 21st, 2015

sorry its 12450

Apr 21st, 2015

oh okay I was just confused thank you

Apr 21st, 2015

elcome

Apr 21st, 2015

so when I put in 12450[1-0.057]3 is that my answer to how much is in his account

Apr 21st, 2015

the 3 is a power

Apr 21st, 2015

okay I am very confused. I don't know how to get how much is in his account and how much interest he made from his investment


Apr 21st, 2015

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Apr 22nd, 2015
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Apr 22nd, 2015
May 24th, 2017
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