Daniel deposits $300 into an account that earns 16% interest annually. Which equation can be used to model his account balance,
y, after x years?
1 answer:
Answer:

Step-by-step explanation:
<h2>This account can be modeled using the compound interest formula.</h2><h2>the compound interest formula is expressed as</h2>

Where
A =final amount = y
P=initial principal balance
= $300
r=interest rate = 16%= 0.16
t=number of time periods elapsed= x
Hence the equation to model his account balance/ final amount A (y) after time (x) years is

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