A savings account compounds interest, at a rate of 22%, once a year. George puts $750 in the account as the principal. How can George set up a function to track the amount of money he has?

A(x) = 750(1 + .22)^x where .22 is the interest rate

A(x) = 750(22)^x where 22 is the interest rate

A(x) = 750(.22)^x where .22 is the interest rate

A(x) = 750(1 + 22)^x where 22 is the interest rate

Question

A savings account compounds interest, at a rate of 22%, once a year. George puts $750 in the account as the principal. How can George set up a function to track the amount of money he has?

 A(x) = 750(1 + .22)^x where .22 is the interest rate

 A(x) = 750(22)^x where 22 is the interest rate

 A(x) = 750(.22)^x where .22 is the interest rate

 A(x) = 750(1 + 22)^x where 22 is the interest rate

♪chibiterasu · Answer

A, it would have to be 1.22 so the first option makes the only sense.