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.

A man invested 200 000 LE in a project. Each year his investment grows by . Determine the value of his investment after 7 years, giving your answer correct to two decimal places.

Deborah decides to put in a savings account with an interest rate of per year. What is the total amount of money that Deborah will have in her savings account after years?

Kelly wants to invest some money. She would like the value of her investment to double in 10 years. Write an equation that can be used to find , the annual rate of interest required. Assume interest is compounded annually.