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shusha [124]
3 years ago
14

A savings account compounds interest, at a rate of 17%, once a year. John puts $1,000 in the account as the principal. How can J

ohn set up a function to track the amount of money he has?
A(x) = 1000(17)x where 17 is the interest rate
A(x) = 1000(.17)x where .17 is the interest rate
A(x) = 1000(1 + .17)x where .17 is the interest rate
A(x) = 1000(1 + 17)x where 17 is the interest rate
Mathematics
2 answers:
notka56 [123]3 years ago
6 0

Answer:

C. A(x)=1000\cdot (1+0.17)^x, where 0.17 is the interest rate.

Step-by-step explanation:

We have been given that a savings account compounds interest, at a rate of 17%, once a year. John puts $1,000 in the account as the principal. We are asked to set up a function to track the amount of money John has.

We will use exponential form of function to set up required function.

An exponential function is in form y=a\cdot b^x, where,

a = Initial value,

b = For growth b is in form (1+r), where r represents the growth rate in decimal form.

Let us convert our given rate in decimal form.

17\%=\frac{17}{100}=0.17

Since John invested an amount of $1,000, so a=1000 for our growth function.

Upon substituting our given values in growth function we will get,

A(x)=1000\cdot (1+0.17)^x, where A(x) represents amount of money after x years.

Therefore, A(x)=1000\cdot (1+0.17)^x is our required function and option C is the correct choice.

Nimfa-mama [501]3 years ago
5 0
#3
A(x) = 1000(1+.17)x

because the 17 percent would have to be changed to a decimal form
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