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)

Responses

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

1 answer

To model the relationship between the number of months and the total amount of money in Oliwia's account, we can derive the equation of a linear function based on the information provided.

  1. Initial Deposit: $3,000 (this is the starting amount, which means when \( x = 0 \), \( y = 3,000 \)).
  2. Monthly Interest: $3 (this means the slope of the line is the interest earned per month, which is \( 3 \)).

The total amount in the account after \( x \) months can be represented by the initial amount plus the interest earned over those months.

The equation can be set up as follows:

\[ y = \text{initial deposit} + (\text{monthly interest}) \times (\text{number of months}) \]

This translates to:

\[ y = 3000 + 3x \]

This can also be written as:

\[ y = 3x + 3000 \]

So, the correct answer 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.