Which of the following expressions are equivalent to the expression below?
1 answer:
You might be interested in
Answer:
Option d. the initial amount of money placed in the savings account
Step-by-step explanation:
we have
This is a exponential function of the form
where
a is the initial value
r is the growth rate
(1+r) is the base
x is the number of years
f(x) is the amount of money in a savings account
In this problem we have
a=$3,005
r=0.03=3%
(1+r)=1.03
therefore
3,005 represent the initial value ( the amount of money for the value of x equal to zero)