Describe the variables and numbers that you used in your equation.
y = 20,308 * (1 + 0.0507)^x
1 answer
In the equation provided, the variable "y" represents the value of the investment over time, where the initial investment is $20,308. The number 0.0507 represents the annual interest rate, and "x" represents the number of years the investment is held for.
1 answer