An investor opens an account with $5,000. The value of the account increases at a rate of 4.2% per year. The investor makes no additional deposits or withdrawals.

Question

Which function can be used to find the total amount in the account in dollars after x years?

A.) f(x) = 5,000(0.958)^x

B.) f(x) - 5,210(1.042)^x

C.) f(x) = 5,210(0.958)^x

D.) f(x) = 5,000(1.042)^x

Answer 1

The correct function that can be used to find the total amount in the account in dollars after x years is:

D.) f(x) = 5,000(1.042)^x