A savings account compounds interest, at a rate of 15%, once a year. Elizabeth puts $800 in the account as the principal. How can Elizabeth set up a function to track the amount of money she has?
I think I have the answer but i would like someone to check it... My answer is A(x)=800(.15)^x where .15 is the interest rate

Question

A savings account compounds interest, at a rate of 15%, once a year. Elizabeth puts $800 in the account as the principal. How can Elizabeth set up a function to track the amount of money she has?
I think I have the answer but i would like someone to check it... My answer is A(x)=800(.15)^x where .15 is the interest rate

axel.caballero · Answer

A(x) = 800(.15)x where .15 is the interest rate