Question

What model describes the relationship between the amount of money in an account and time, given that the money doubles every month?
linear
quadratic
cubic
exponential

Answer 1

If we have a common ratio every set amount of time (and not a common difference or addition), this is an exponential relationship. An exponential equation would have a form like Money = (1000)(2)^(# of months), where every additional month would cause the money amount to double.

Answer 2

Answer:

The model that describes the relationship between the amount of money in an account and time, given that the money doubles every month is:

                           Exponential

Step-by-step explanation:

Let the initial amount of money be: x

• i.e. amount of money in first month= x

• Hence, if money doubles every month then the amount of money in second month is:  2x

• In third month it will be: $2\times 2x=2^2x$

• In fourth month it will be:  $2\times 2^2x\\\\=2^3x$

and so on,

Hence, the amount of money in nth month is:

                           $2^{n-1}x$

As the amount of money increases by a fixed multiplicative rate i.e. 2.

                Hence, the model is:

                     Exponential.