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Sagot :
Answer:
Her grant in four years time will be of $13108.
Step-by-step explanation:
Exponential equation:
An exponential equation has the following format:
[tex]A(t) = A(0)(1+r)^t[/tex]
In which A(0) is the initial value and r is the growth rate, as a decimal.
A student get a grant of $10000 a year assuming her grant is increased by 7% each year
This means that [tex]A(0) = 10000, r = 0.07[/tex]
So
[tex]A(t) = A(0)(1+r)^t[/tex]
[tex]A(t) = 10000(1+0.07)^t[/tex]
[tex]A(t) = 10000(1.07)^t[/tex]
What will her grant be in four years time?
This is A(4). So
[tex]A(t) = 10000(1.07)^t[/tex]
[tex]A(4) = 10000(1.07)^4 = 13108[/tex]
Her grant in four years time will be of $13108.
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