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alexira [117]
2 years ago
8

PLS HELP ASAP!! WILL MARK BRAINLYIST

Mathematics
1 answer:
Murljashka [212]2 years ago
4 0

Answer:

After 5 years, savings account = $241.00

After 8 years, savings account = $269.53

Step-by-step explanation:

If the savings account increases by 3.8% per year, this means it will be 103.8% of the previous year's value since 100% + 3.8% = 103.8%

103.8% in decimal form = 103.8/100 = 1.038

Therefore, the exponential function is:

y = 200 \cdot 1.038^x, where x is the number of years

So when x=5,  

y = 200 \cdot 1.038^5=240.99984...

After 5 years, savings account = $241.00

After 8 years, savings account = $269.53

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