Answer:
y = 360(1.03)x
Step-by-step explanation:
![F = P x (1 + i)^n](https://tex.z-dn.net/?f=F%20%3D%20P%20x%20%281%20%2B%20i%29%5En)
F is the future worth, P is the present worth, I will be the interest rate, and n is the number of years. ![F = ($360)(1.03)^x](https://tex.z-dn.net/?f=F%20%3D%20%28%24360%29%281.03%29%5Ex)
The principal amount of the money = $360
Annual rate of interest = 3%
Thus, the amount after x years which is increased by 3%.
Since, this amount represented by y,
The required equation that represents the amount of money in Josiah’s account, y, after x years is, ![= 360(1+\frac{3}{100} )^x\\ = 360(1+0.03 )^x\\ = 360(1.03 )^x](https://tex.z-dn.net/?f=%3D%20360%281%2B%5Cfrac%7B3%7D%7B100%7D%20%29%5Ex%5C%5C%20%3D%20360%281%2B0.03%20%29%5Ex%5C%5C%20%3D%20360%281.03%20%29%5Ex)
This amount represented by y,
Therefore, the required equation that represents the amount of money in Josiah’s account, y, after x years is,
![y = 360(1.03 )^x](https://tex.z-dn.net/?f=y%20%3D%20360%281.03%20%29%5Ex)
Hope this helps you!
Have a nice evening! ;)