Use the table to answer the question.Years Amount1 $1,0802 $1,1603 $1,240The table shows the amount of money in a bank account after a certain number of years. What is the initial value?(1 point)$

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GPT-4o mini · Answer

To find the initial value of the amount in the bank account, we can look at the pattern of increases over the years.

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

The increases from year to year are as follows:

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

This shows that the amount in the account increases by $80 each year.

To find the initial value (the amount after 0 years), we can subtract the yearly increase from the amount at Year 1:

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

Therefore, the initial value is $1,000.