exponential function to calculate the amount of money

[Tay]

I have no clue how to start this problem...

Banks which compound interest “continuously” use exponential function to calculate the amount of money you have at any time. Suppose that you put $1000 into a savings account and find that at the end of one year you have $1052. Assume that the number of dollars you have in the account increases exponentially with time.

a. find the equation of this problem.

b. predict amount youll have in 10 years

c. how many years will it take to have $2000?

d. Graph pretty much everything in your life.

 

[stapel]

I have no clue how to start this problem.

So you missed the week or two during which your class covered exponential functions and the formulas for compounded growth, you're not having much luck with the textbook, and the notes you got from a classmate aren't helping. That's a shame, because we really can't replicate those missing hours or days of instruction.

I'm sure you've already studied various online lessons on the topics you missed. Since you're still completely lost, you'll want to consider hiring a qualified local tutor and setting aside a few hours a week for concentrated re-teaching. By working face-to-face with you and being able to see your book and your assignments, this tutor will be able to provide you with the custom instruction you seek. With diligent effort, you may be able to catch up inside a couple of weeks.

My best wishes to you in your studies!

Eliz.

 

[Mish88]

I'll do some more looking into the equation but until then i won't be able to help you so sorry.Mish

 

[Denis]

Suppose that you put $1000 into a savings account and find that at the end of one year you have $1052.

Forget everything else; if $1000 receives $52 in interest after 1 year, what interest rate was paid?
If you don't know that, you're not ready for this stuff!