The exponential regression equation y=307.60(1.11)^x models the dollar value of a retirement fund after x years. Which is best e
stimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made. ?
A. $310
B. $580
C. $1,880
D. $2,050
2 answers:
Answer:
B. $580 is best estimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made.
Thus it is little close to answer because actual answer is $575.34.
Answer:
B. $580
Step-by-step explanation:
Value of the retirement fund after x years:
The value of the retirement fund after x years is given by the following function:
Which is best estimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made?
This is y(6). So
Close to $580, and thus, the correct answer is given by option B.
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