Question

The function below represents the annual interest Alexander earns on a savings account. Identify the term that represents the amount of time that the money is accruing interest. f(x) = 500(1 + 0.02)x 500 1 0.02 x

Answer 1

Answer:

Option 4

The term that represents the amount of time that the money is accruing interest is 'x'.

Step-by-step explanation:

Given : The function below represents the annual interest Alexander earns on a savings account.

$f(x)=500(1+0.02)^x$

To find : Identify the term that represents the amount of time that the money is accruing interest ?

Solution :

The general annual interest formula is $A=P(1+r)^t$

Where, A is the amount

P is the principal

r is the interest rate

t is the time

The annual interest Alexander earns on a savings account is

$f(x)=500(1+0.02)^x$

Comparing with general formula,

t=x

The term that represents the amount of time that the money is accruing interest is 'x'.

Therefore, Option 4 is correct.

Answer 2

Answer:

The answer is x.

Step-by-step explanation:

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