A savings account advertises an annual percentage yield APY of 5 7 which means that the balance in the account increases at an

Question

A savings account advertises an annual percentage yield APY of 5 7 which means that the balance in the account increases at an annual growth rate of 5 7 yr a Find the balance in the account for t20 with an initial deposit of 1000 assuming the APY remains fixed and no additional deposits or withdrawals are made b What is the doubling time of the balance c After how many years does the balance reach 4500 a Use the exact value of k when finding the balance in the account The balance in the account is y t 0 Type an expression using t as the variable

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