Answer:
Option C is the correct answer.
Step-by-step explanation:
Looking at the functions given,
Initial amount deposited into the account is $150 This means that the principal is
P = 150
It was compounded quarterly. This means that it was compounded 4 times in a year. So
n = 4
The rate at which the principal was compounded is 3%. So
r = 3/100 = 0.03
It was compounded for x years. So
t = x years
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years. Therefore, the
function that models the value in x years of an investment at 3% annual interest compounded quarterly would be
150 (1+0.03/4)^4×x
150 (1 +.0075)^4x
