Answer:
Step-by-step explanation:
#5a
The format [tex]y = P(1+r)^x[/tex] is where
P refers to the initial amount, in this case $2.28
r = the rate (in decimal), in this case, (0.03)
so [tex]y = 2.28(1+0.03)^x\\y = 2.28(1.03)^x\\[/tex]
#5b
Now, we just have plug 20 into x
[tex]y = 2.28(1.03)^2^0 = 4.117933615 = 4.18[/tex]
