### Home > INT3 > Chapter 7 > Lesson 7.1.3 > Problem7-36

7-36.

When Lorretta was 18 years old, she deposited $100 into a 20-year certificate of deposit (CD) account that earns interest at a better rate than her standard savings account. She must leave the money in the account for 20 years, without making any withdrawals or deposits. Six years later, she had$132 in the account. Write an equation that will represent this situation, and use the equation to determine how much money Lorretta will have in her CD after 20 years. Homework Help ✎

100(x)6 = 132

$y = 100(1.047)^x$