Suppose you invest $150 a month for 3 years into an account earning 6% compounded monthly .after 3 years, you leave the money, without making additional deposits, in the account for another 28 years. how much will you have in the end?

In the end, you will have $5,638,824,951,226

Step-by-step explanation:

I solved this by using Google Sheets to do the math for me (sheets.new). Here is how I did it...

Pictures of each step in the attachments.

1.) Insert your initial deposit into cell A1.

2.) In cell A2, type =A1 * 1.06. This represents adding 6% of your initial deposit to itself.

3.) In cell A3, type =(150+A2)*1.06. This represents adding $150 on top of calculating interest afterwards.

4.) Hold click on the small box in the right hand corner of cell A3, and drag down all the way to cell A36. This will automatically calculate all of your values for 36 months, or 3 years.

5.) In cell A37, add the equation =A36*1.06, as we are no longer adding $150 every month.

6.) Finally, drag the small box in the bottom right of cell A37 all the way down to cell A372. This box represents having the money sit for an additional 336 months, or 28 years.

I could only add a maximum of 5 images, so step 6 is similar to step 4's picture.

So, approximately, China's exports of automobiles and parts reach $12.3 billions in the year 2065.

Step-by-step explanation:

Given:

f(x) =

x = 0 corresponds to 1998

We need to find when it achieve $12.3 billions export.

12.3 billions = 12,300,000,000

Now plug f(x) =  12,300,000,000

12,300,000,000 =  

Dividing both sides by 1.8208, we get

6,755,272,407.7 =

Taking "ln" both sides, we get

ln(6,755,272,407.7) = 0.3387x

22.6335891344 = 0.3387x

Dividing both sides, by 0.3387

x = 66.82

When we round off to the nearest whole number, we get

x = 67 years

So, approximately, China's exports of automobiles and parts reach $12.3 billions in the year 2065 (1998 + 67).