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 negative linear function
a negative linear function

a positive exponential function
a positive exponential function

a negative quadratic function
a negative quadratic function

a positive linear function

Answer 1

The amount of money Quavarius has in his investment account can be modeled by a positive exponential function because he is making regular deposits into an account that earns interest compounded monthly.

As he continues to deposit money and earn interest on both the principal and accumulated interest, the growth of the total amount is exponential over time. Thus, the best option is:

a positive exponential function