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Intermediate Algebra

Exponential and Logarithmic Functions

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Exponential Functions and Applications

Problem 5

You deposit \(\$500\) in an account that earns \(8\%\) compounded quarterly. Find an equation that gives the amount of money in the account after \(t\) years, the amount in the account after \(5\) years, and when it will contain \(\$1\text{,}000\).

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