Answer:
The Rosita investment worth in 2025 is $83486.4 .
Step-by-step explanation:
The expontential increase function is given by.
[tex]y = a(1 + r)^{t}[/tex]
Where a is the initial value , r is the rate of interest in the decimal form and t is the time.
As given
Rosita invested in a precious mineral.
The value of the mineral tends to increase by about 12% per year.
She invests $24,000 in 2014.
As
a = 24000
12% is written in the decimal form.
[tex]= \frac{12}{100}[/tex]
= 0.12
r = 0.12
As Rosita invested from 2014 to 2025.
Than
t = 2025 - 2014
t = 11 years
Put in the expontential increase function.
[tex]y = 24000(1 + 0.12)^{11}[/tex]
[tex]y = 24000(1.12)^{11}[/tex]
y = 24000 × 3.4786 (Approx)
y = $83486.4
Therefore the Rosita investment worth in 2025 is $83486.4 .
