Question

When Tyler was born, his father created a college fund by opening an investment account with $3,500 and an annual interest rate of 2.85%. The current amount of the investment account can be modeled by an exponential function in the form f(x)=a⋅b^x , where x is the number of years after the investment started. Find the function f(x) .(1 point)

Answer 1

The exponential function in this case would be f(x) = 3500(1 + 0.0285)^x