contestada

The value of Yong's investment account increases at a rate that is proportional at any time to the value of the account at that time.
Her account was worth $2000 initially, and it increases by 10%, percent every 4 years.

What is the value of Yong's investment account after 7 years?

Choose 1 answer:

(A) $2036

(B) $2350

(C) $2363

Respuesta :

Using an exponential function, it is found that the value of Yong's investment account after 7 years is given by:

(C) $2363

What is an exponential function?

It is modeled by:

[tex]y = ab^x[/tex]

In which:

  • a is the initial value.
  • b is the rate of change.

Her account was worth $2000 initially, and it increases by 10%, percent every 4 years, hence, it is modeled by:

[tex]y(t) = 2000(1.1)^{\frac{t}{4}}[/tex]

After 7 years, the amount is:

[tex]y(7) = 2000(1.1)^{\frac{7}{4}} = 2363[/tex]

Hence option C is correct.

More can be learned about exponential functions at https://brainly.com/question/25537936

Otras preguntas