y-intercepts in Real-World Problems Practice

Question

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Question
Use the table to answer the question.

Determining the initial deposit prior to annual increments.
Years Amount
1 $1,080
2 $1,160
3 $1,240
The table shows the amount of money in a bank account after a certain number of years. What is the initial value?

(1 point)

Answer 1

To determine the initial deposit prior to annual increments using the provided information, we can analyze the table.

The table indicates the amount of money in the bank account after a certain number of years:

• After 1 year: $1,080
• After 2 years: $1,160
• After 3 years: $1,240

From this data, we can observe the increments from one year to the next:

• The increase from year 1 to year 2 is: $1,160 - $1,080 = $80
• The increase from year 2 to year 3 is: $1,240 - $1,160 = $80

This suggests that there is a consistent annual increment of $80.

To find the initial deposit (which we can consider as the amount in the bank account at year 0), we can work backwards:

• Amount after Year 1: $1,080
• Initial Deposit (Year 0) = Amount after Year 1 - Increment
• Initial Deposit (Year 0) = $1,080 - $80 = $1,000

Thus, the initial deposit prior to the annual increments is $1,000.