Oliwia is opening a bank account. She learns that there is a special promotion where if she deposits $3,000 and then makes no additional deposits or withdrawals, her account will earn $3 in interest per month. Write the equation of a linear function that models the relationship between number of months and total amount of money Oliwia will have in her account.(1 point)

Question

Responses

y=1,000x+3
, where x
is the number of months and y
is the total amount of money Oliwia will have in her account.
y equals 1,000 x plus 3 , where x is the number of months and y is the total amount of money Oliwia will have in her account.

y=3x+3,000
, where x
is the number of months and y
is the total amount of money Oliwia will have in her account.
y equals 3 x plus 3,000 , where x is the number of months and y is the total amount of money Oliwia will have in her account.

y=3x+1,000
, where x
is the number of months and y
is the total amount of money Oliwia will have in her account.
y equals 3 x plus 1,000 , where x is the number of months and y is the total amount of money Oliwia will have in her account.

y=3,000x+3
, where x
is the number of months and y
is the total amount of money Oliwia will have in her account.

Answer 1

To model the relationship between the number of months (x) and the total amount of money (y) in Oliwia's bank account, we start with her initial deposit and then add her monthly interest.

Oliwia starts with an initial deposit of $3,000, and she earns $3 in interest each month. Therefore, after x months, her total amount of money can be expressed as:

\[ y = 3000 + 3x \]

This can be rearranged to:

\[ y = 3x + 3000 \]

From the given options, the correct equation that models the relationship is:

y = 3x + 3,000, where x is the number of months and y is the total amount of money Oliwia will have in her account.