Question:

- A bank features a savings account that has an annual percentage rate of r quarterly. Manuel deposits $5,000 into the account. The account balance can be modeled by the exponential formula A(t) = a (1 a = " account value after t years, a is the principal

Last updated: 8/15/2022

- A bank features a savings account that has an annual percentage rate of r quarterly. Manuel deposits $5,000 into the account. The account balance can be modeled by the exponential formula A(t) = a (1 a = " account value after t years, a is the principal

A bank features a savings account that has an annual percentage rate of r quarterly. Manuel deposits $5,000 into the account. (A) What values should be used for a, r, and k? (B) How much money will Manuel have in the account in 8 years? (C) What is the annual percentage yield (APY) for the savings account?