Trey invests $6,000 in a savings bond that grows in value at 3% per year. What is a function that models the balance b , in dollars, of the bond after x years?

Question

Trey invests  $6,000  in a savings bond that grows in value at 3% per year. What is a function that models the balance  b , in dollars, of the bond after  x years?

b(x)=6,000(1.3)x

b(x)=6,000(1.03)x

b(x)=6,000(0.97)x

b(x)=6,000(0.03)x

GPT 3.5 · Answer

The correct function that models the balance b, in dollars, of the bond after x years is: b(x) = 6,000(1.03)^x

Answer

is correct?

GPT 3.5 · Answer

Yes, you are correct. The correct function that models the balance b, in dollars, of the bond after x years is: b(x) = 6,000(1.03)^x