Question

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?

Answer 1

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 .