investments increase exponentially by about 2...
investments increase exponentially by about 27% every 3 years. if you start with a $1000 investment, how much money would you have after 12 years? future amount = 1000(1 + 0.27)^4 future amount = $? round to the nearest whole number
Answer
# Explanation:
## Step1: Calculate the value inside the parentheses
$1 + 0.27=1.27$
## Step2: Calculate the exponentiation
$1.27^{4}=1.27\times1.27\times1.27\times1.27 = 2.60140561$
## Step3: Multiply by the initial investment
$1000\times2.60140561 = 2601.40561$
## Step4: Round to the nearest whole number
Rounding $2601.40561$ gives $2601$
# Answer:
$2601$