Question

John, a graduating senior at Bowie High School, is opening a savings account and initially puts in the $1800 that he received in graduation money. He never adds anymore of his own money, and the bank pays an interest of 15% per year. If he never adss anymore of his own money, and the bank an intrerest of 15% per year. What is the correct function rule for this?

Answer 1

if you want the rule for the account balance after t years, then that is
A = P(1+r)^t
So now just plug in your numbers to find the value after 15 years.

Answer 2

is it y=1800(1.15)^x?

Answer 3

correct
nvm about the 15 years -- I got confused with all those 15's...

Answer 4

thank you!