Mathematics, 27.04.2021 22:10, kush3489t

Tim has $5,000 in a savings account with a bank. The bank pays 2% interest per year. When will Tim’s savings reach $6,000. Use the following exponential equations to model the description and solve for the variable. Growth: y = a (1 + r)^t, and decay: y = a (1 - r)^t. Use the information to answer all questions in this section.

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Tim has $5,000 in a savings account with a bank. The bank pays 2% interest per year. When will Tim’s...