Quavarius sets up an investment account that guarantees a 5% interest compounded monthly. He deposits $100 into his account each month. Which type of function best models the amount of money Quavarius has in his account?(1 point)

Question

Responses

a positive linear function
a positive linear function

a negative linear function
a negative linear function

a negative quadratic function
a negative quadratic function

a positive exponential function

Answer 1

The amount of money Quavarius has in his account can be modeled using a positive exponential function. This is because the interest is compounded monthly, which means that not only is he adding a fixed amount each month ($100), but the interest on the total account balance also increases over time.

In summary, the combination of regular deposits and compounded interest leads to exponential growth in the account balance rather than a linear or quadratic relationship.