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Question: terri wins 100 000 in the lotto and decides to...

Question details

Terri wins $100 000 in the lotto and decides to invest $75 000. After looking around at the savings accounts available, she decides to invest with tightwad banks peenypincher account which pays 2.34% pa compounded quarterly. 

Exponential equation:


Answer the ff. In relation to the contraction of an equation to represent the value of terris investment, y($) in terms of time since investment t(years)

1. What does the 'k' represent in the context? Enter you answer to nearest whole number.

2. what does the 'a' rep sent in the context of this question? Enter your answer to 5 decimal places.

3. What does the 'n' represent? Enter your answer to the nearest whole number.

4. What is the value of terris investment after 3 years in this account? Enter your answer to 2 decimal places.



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