investments increase exponentially by about 26% every 3 years. if you made a $2,000 investment, how much…

investments increase exponentially by about 26% every 3 years. if you made a $2,000 investment, how much money would you have after 45 years?\nfuture amount = 2,000(1 + 0.26)^{15}\nfuture amount = $?\nround your answer to the nearest whole number.

investments increase exponentially by about 26% every 3 years. if you made a $2,000 investment, how much money would you have after 45 years?\nfuture amount = 2,000(1 + 0.26)^{15}\nfuture amount = $?\nround your answer to the nearest whole number.

Answer

Answer:

$107984$

Explanation:

Step1: Calculate $(1 + 0.26)^{15}$

$(1 + 0.26)^{15}=1.26^{15}\approx53.992$

Step2: Multiply by initial investment

$2000\times53.992 = 107984$