[Solution Library] Let’s say you deposit $5000 in a gift fund for your new born niece. She is free to withdraw the money from the fund when she turns 18 or she
Question: Let’s say you deposit $5000 in a gift fund for your new born niece. She is free to withdraw the money from the fund when she turns 18 or she may just let it sit in the fund and withdraw it at a later date. At any given time the value of the original $5000 is equal to 5000(1.1)AN. Here, N is the number of years after initial deposit. A denotes exponential sign as in "raised to the power" If the niece withdraws the money when she turns 50 how much will she withdraw? If you plot the years on X axis and Fund value on Y axis, then will you get a linear or non—linear
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