The exponential equation is for the above mentioned condition can be given as A = 4000 [tex]( 1+\frac{4.29}{n} )^{5n}[/tex]
Step-by-step explanation:
Given:
The amount that has to be invested $4000. So we can consider that as principle amount,So
Principle amount = $4000
Rate = 4.29%
To Find:
Frame Exponential equation
Solution:
So we can express the amount in the equation form as:
A = P [tex]( 1+\frac{r}{n} )^{nt}[/tex]
A = 4000 [tex]( 1+\frac{4.29}{n} )^{5n}[/tex]
Where, n= number of times interest rate is compounded per unit year.
Thus the resultant equation thus obtained is A = 4000 [tex]( 1+\frac{4.29}{n} )^{5n}[/tex]
