Question Use the table to answer the question. Years Amount 1 $1,080 2 $1,160 3 $1,240 The table shows the amount of money in a bank account after a certain number of years. What is the initial value? (1 point)

Answer 1

To find the initial value of the bank account, we need to determine the amount present before any years have passed. From the table:

• After 1 year, the amount is $1,080.
• After 2 years, the amount is $1,160.
• After 3 years, the amount is $1,240.

As we can see, each year the account grows.

Let's calculate the growth per year:

• From year 1 to year 2: $1,160 - $1,080 = $80
• From year 2 to year 3: $1,240 - $1,160 = $80

This suggests that the account grows by $80 each year.

If we want to find out the initial value (amount at year 0), we can subtract the gain from the first year:

Initial Value = Amount after 1 year - Amount gained in 1 year Initial Value = $1,080 - $80 = $1,000

Thus, the initial value of the bank account is $1,000.