If $5000 is invested at an interest rate of 4% each year, what is the value of the investment in 5 years? V exponential function and solve.
a. y = 5000(1.04)⁵; $6083.26
b. y = 5000(5)¹.⁰⁴; $26,662.37
c. y = 1.04(5000)⁵; $6830.26
d. y = 5(5000)¹.⁰⁴; $35,147.85