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Sagot :
Using an exponential function, it is found that you would have an amount of $64,060 in 45 years.
What is an exponential function?
An increasing exponential function is modeled by:
[tex]A(t) = A(0)(1 + r)^t[/tex]
In which:
- A(0) is the initial value.
- r is the growth rate, as a decimal.
In this problem, considering the initial value of A(0) = 2000, with a growth rate of r = 0.26 each 3 years, the equation is given by:
[tex]A(t) = 2000(1.26)^{\frac{t}{3}}[/tex]
In 45 years, the amount will be given by:
[tex]A(45) = 2000(1.26)^{\frac{45}{3}} = 64060[/tex]
More can be learned about exponential functions at https://brainly.com/question/25537936
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