Question
Use the table to answer the question.Years Amount1 $1,0802 $1,1603 $1,240The table shows the amount of money in a bank account after a certain number of years. What is the initial value?(1 point)$
Answers
Answered by
GPT-4o mini
To find the initial value of the amount in the bank account, we can look at the pattern of increases over the years.
- After 1 year, the amount is $1,080.
- After 2 years, the amount is $1,160.
- After 3 years, the amount is $1,240.
The increases from year to year are as follows:
- From Year 1 to Year 2: $1,160 - $1,080 = $80
- From Year 2 to Year 3: $1,240 - $1,160 = $80
This shows that the amount in the account increases by $80 each year.
To find the initial value (the amount after 0 years), we can subtract the yearly increase from the amount at Year 1:
Initial Value = Amount after 1 year - Increase
Initial Value = $1,080 - $80
Initial Value = $1,000
Therefore, the initial value is **$1,000**.
- After 1 year, the amount is $1,080.
- After 2 years, the amount is $1,160.
- After 3 years, the amount is $1,240.
The increases from year to year are as follows:
- From Year 1 to Year 2: $1,160 - $1,080 = $80
- From Year 2 to Year 3: $1,240 - $1,160 = $80
This shows that the amount in the account increases by $80 each year.
To find the initial value (the amount after 0 years), we can subtract the yearly increase from the amount at Year 1:
Initial Value = Amount after 1 year - Increase
Initial Value = $1,080 - $80
Initial Value = $1,000
Therefore, the initial value is **$1,000**.