Question

Sophia invested some money in a bank at a fixed rate of interest compounded annually. The equation below shows the value of her investment after x years:

f(x) = 500(1.05)x

What was the average rate of change of the value of Sophia's investment from the second year to the fourth year?
14.13 dollars per year
28.25 dollars per year
50.00 dollars per year
56.50 dollars per year

Answer 1

@Grace808