You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time in months Savings...

You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months.

Time in months	Savings balance
0	$1600.00
1	$1619.20
2	$1638.63
3	$1658.29
4	$1678.19
5	$1698.33

(a) How much money was originally invested?
$

(b) Show that the data are exponential. (Round your answer to three decimal places.)

Each successive ratio of new/old is____________ , which shows that the data is exponential.

Find an exponential model for the account balance. (Lett be the time in months andB the savings balance in dollars. Round your parameters to three decimal places.)

B(t) =_______________

(f) How long does it take your money to double in value? (Round your answer to two decimal places.)
____________ months

How much longer does it take it to double in value again? (Round your answer to two decimal places.)

Jun 04, 2022

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You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time in months Savings...

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