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since birth hakem has had a savings account that started at $3,000 and had been growing at a rate of 13% per year the amount of money in the account can be modeled by the equation y equals P =(1.13)^ Z where why is the value of the count is the number of years and pee was original deposit amount is it possible for hakem account to grow to $31812 11.42 in hakem lifetime?( try to figure out the bounds of the perameter)

since birth hakem has had a savings account that started at 3000 and had been growing at a rate of 13 per year the amount of money in the account can be modeled class=

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Solution

For this case we have the following formula:

[tex]y=3000(1.13)^x^{}[/tex]

And we want to find the value for t in order to have y = 3181211.42 , solving for y we got:

[tex]3181211.42=3000(1.13)^x[/tex]

and solving for x we got:

[tex]\ln (\frac{3181211.42}{3000})=x\cdot\ln (1.13)[/tex][tex]x=56.99\approx57[/tex]

for this case we need 57 years to reach the amount so then assuming that a person lives about 80 years , then is possible

yes

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