The population of an island is 6000 people this year and is projected to be 6300 people next year, by what percentage is the pop
1 answer:
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Answer:
Option d. the initial amount of money placed in the savings account
Step-by-step explanation:
we have
This is a exponential function of the form
where
a is the initial value
r is the growth rate
(1+r) is the base
x is the number of years
f(x) is the amount of money in a savings account
In this problem we have
a=$3,005
r=0.03=3%
(1+r)=1.03
therefore
3,005 represent the initial value ( the amount of money for the value of x equal to zero)