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algol13
3 years ago
13

The amount of money in a savings account after t years is represented by the function f(t)=500(1.015)^t. What does the value 500

represent in this situation?
Mathematics
1 answer:
MaRussiya [10]3 years ago
4 0

Answer:

Find out the what does the value 500 represent in this situation .

To prove

As given

The amount of money in a savings account after t years is represented by the function.

f(t)=500(1.015)^{t}

Exponential function for amount is given by .

Amount = a (1 + r)^{t}

Wher a is the initial value, r is the rate in decimal form and t is the time.

Compare the functions

f(t)=500(1.015)^{t}

and

Amount = a (1 + r)^{t}

Thus a = 500

Therefor $500 is the initial value .


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