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liberstina [14]
3 years ago
14

Josiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equat

ion represents the amount of money in Josiah’s account, y, after x years?
Mathematics
2 answers:
romanna [79]3 years ago
8 0

Answer:

y = 360(1.03)^x

Step-by-step explanation:

Here, x represents the number of year and y represents the amount after x years,

Given,

The initial amount, P = $ 360,

The compound rate of interest per year, r = 3 %,

Thus, the amount after x years would be,

y=P(1+\frac{r}{100})^x

y=360(1+\frac{3}{100})^x

y=360(1+0.03)^x

\implies y = 360(1.03)^x

Which is the required equation.

tangare [24]3 years ago
3 0
Hi there

The equation is
Y (x)=360 (1.03)^x

Good luck!
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