Question

A student used f(x)=5.00(1.012)xf(x)=5.00(1.012)x to show how the balance in a savings account will increase over time. What does the 5.005.00 represent?

Answer 1

Answer:

5.00 is the value of the initial balance (i.e. when time is 0) in the savings account.

Step-by-step explanation:

We have the function, $f(x)=5.00(1.012}^x$ which represents the balance in the savings account.

Now, if we substitute x= 0, we have,

$f(x)=5.00(1.012}^x$ implies $f(0)=5.00(1.012}^0$

As, 'any number with power 0 is equal to 1 i.e. $x^0=1$'.

We get,

$f(0)=5.00(1.012}^0$ implies $f(0)=5.00\times 1$ i.e. f(0)= 5.00

Thus, we see that,

5.00 is the value of the initial balance (i.e. when time is 0) in the savings account.