Exponential Growth

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Snigdha Anumolu Snigdha Anumolu
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Exponential Growth

How do I solve this?

Find the amount of i in i = jte where j = $500, t = 6% and e = 4 years.
AlgebraHouse AlgebraHouse
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Re: Exponential Growth

i = jte

J = $500, t = 6%, and e = 4 years

I = 500(0.06)(4)   {substituted values in for variables, changing 6% to a decimal}
i = $120   {multiplied}