Question

Sara has $150 in her savings account. The amount in her account increases by %6 every year. If she does not put more money into her account, what will be the balance to the nearest dollar in her account after one year.

Answer 1

Answer:

$159

Step-by-step explanation:

we know that

The equation of a exponential growth function is equal to

$y=a(1+r)^x$

where

y is the balance in the saving account

x is the number of years

a is the initial amount

r is the percent rate of change

we have

$a=\ 150\\r=6\%=6/100=0.06$

substitute

$y=150(1+0.06)^x$

$y=150(1.06)^x$

For x= 1 year

substitute

$y=150(1.06)^1=\ 159$