17
QuizMultiple Choice

Exponential Equations in Financial Contexts — Quiz

Question 17 • Financial Math

A customer invests $⁢65,000 in a certificate of deposit that compounds 3.4% interest daily. The investment has a final value of $⁢71,979.58 Write an exponential equation and use a graphing calculator to find x , the time in years it will take to reach this amount. Round to the nearest whole number if necessary.

Answer
A
3 years
B
7 years
C
8 years
D
2 years
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