Question

An investment promises a return of 12% per year. Brody wants to figure out how much money he will have if he invest $1000 for 5, 10, 15 years. The investments growth can be modeled using the exponential function f(x) =1000(1.12)x, where x represents the number of years and f(x) represents the return on the investment. Write three statements using the function notation that can us to evaluate the function of each time frame Brody wants to know about. Interpret the results in terms of the context of the function

Answer 1

the exponential function f(x) =$1000(1.12)^x$

he invest $1000 for 5, 10, 15 years

5 years,

To find the amount of money he have , we plug in 5 for x and find out f(5)

f(x) =$1000(1.12)^x$

f(5) =$1000(1.12)^5$ = 1762.34

The amount of money he have after 5 years is 1762.34

10  years,

To find the amount of money he have , we plug in 10 for x and find out f(10)

f(10) =$1000(1.12)^10$ = 3105.85

The amount of money he have after 10 years is 3105.85

15  years,

To find the amount of money he have , we plug in 15 for x and find out f(15)

f(15) =$1000(1.12)^15$ = 5473.57

The amount of money he have after 15 years is 5473.57

f(5) = 1762.34

f(10) = 3105.85

f(15) = 5473.57