Question

Trey invests $6,000 in a savings bond that grows in value at 3% per year. What is a function that models the balance b , in dollars, of the bond after x years?

b(x)=6,000(1.3)x

b(x)=6,000(1.03)x

b(x)=6,000(0.97)x

b(x)=6,000(0.03)x

Answer 1

is correct?

Answer 2

The correct function that models the balance b, in dollars, of the bond after x years is:

b(x) = 6,000(1.03)^x

Answer 3

Yes, you are correct. The correct function that models the balance b, in dollars, of the bond after x years is:

b(x) = 6,000(1.03)^x