Lesson: Exponential Growth Model

A man deposited 8 694 LE in a bank account with an interest rate of per year. Determine how much money was in the account 10 years later, given that the interest was compounded annually. Give your answer correct to two decimal places.

A man deposited 3 049 LE in a bank account with an interest rate of per year. Determine how much money was in the account 7 years later, given that the interest was compounded every 4 months. Give your answer correct to two decimal places.