Answer
False
Work Step by Step
We find the amount earned after 18 years:
$$ B=Pe^{rt} \\ B=(1000)e^{.055(18)} \\ B=2691$$
Thus, by 18 years, the amount will be far above 2000 dollars.
Functions Modeling Change: A Preparation for Calculus, 5th Edition
by Connally, Eric; Hughes-Hallett, Deborah; Gleason, Andrew M.; Cheifetz, Phil C.
Published by
Wiley
ISBN 10:
1118583191
ISBN 13:
978-1-11858-319-7
Chapter 4 - Exponential Functions - Strengthen Your Understanding - Page 182: 32
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