Samantha puts an initial $500 into a savings account. The account has a 4% annual compound interest rate. What is the function that best represents Samantha's account and how much does she have in savings after 5 years? Round your answer to the nearest dollar.
Hint: Use the formula, f(x) = P(1 + r)x.

f(x) = 500(1.4)x, $2,689
f(x) = 500(0.04)x, $512
f(x) = 500(1.04)x, $608
f(x) = 500(1.04)x, $527
A and B are out because A is adding 40% and b is 4% of it. C or D are correct. Which one?

Question

Samantha puts an initial $500 into a savings account. The account has a 4% annual compound interest rate. What is the function that best represents Samantha's account and how much does she have in savings after 5 years? Round your answer to the nearest dollar.
Hint: Use the formula, f(x) = P(1 + r)x.

 f(x) = 500(1.4)x, $2,689
 f(x) = 500(0.04)x, $512
 f(x) = 500(1.04)x, $608
 f(x) = 500(1.04)x, $527
A and B are out because A is adding 40% and b is 4% of it. C or D are correct. Which one?

oswaldmurphy · Answer

The x are exponents.

thesmartone · Answer

Which one out of C or D?

Just plug in x = 5

f(x) = 500(1.04)^5 

f(x) = ??

and that gives you the correct answer :)

oswaldmurphy · Answer

ty bb

oswaldmurphy · Answer

I got 2 more :P wait one minute.