Alexis deposits $5000 in an IRA, which is earning 8% interest per year. ?

write an equation model to represent the relationship between the time the money is invested and the amount the account is worth. Use that equation model to predict the amount of money in the account after 25 years.

1 Answer

  • fcas80
    Lv 7
    2 months ago

    A = 5000 * (1.08^t)

    5000 * (1.08^25) = 34242.38

Still have questions? Get your answers by asking now.