Solved: In november 2010 ing direct was offering 24 interest on its, Basic Statistics

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In november 2010 ing direct was offering 24 interest on its

In November 2010, ING Direct was offering 2.4% interest on its Orange Savings Account, with interest reinvested quarterly.†Find the associated exponential model for the value of a $2,000 deposit after (t) years. A (t) =

Assuming this rate of return continued for 6 years, how much would a deposit of $2,000 in November 2010 be worth in November 2016? (Answer to the nearest $1.)

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