Answer
See below
Work Step by Step
Given $A=P(1+\frac{r}{n})^{nt}$
and $n=12$
For $P=1500, r=0.02$, $A=1500(1+\frac{0.02}{12})^{12(3)}=1592.68$
For $P=2000, r=0.03$, $A=1500(1+\frac{0.03}{12})^{12(5)}=2323.23$
Algebra 2 (1st Edition)
by Larson, Ron; Boswell, Laurie; Kanold, Timothy D.; Stiff, Lee
Published by
McDougal Littell
ISBN 10:
0618595414
ISBN 13:
978-0-61859-541-9
Chapter 7 Exponential and Logarithmic Functions - Mixed Review of Problem Solving - Lessons 7.1-7.4 - Page 506: 5a
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
