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?

A(x) = 800(15)x where 15 is the interest rate
A(x) = 800(1 + .15)x where .15 is the interest rate
A(x) = 800(.15)x where .15 is the interest rate
A(x) = 800(1 + 15)x where 15 is the interest rate

Answer 1

your interest rate is 0.15 = 15%

so your equation should be A(x) = 800(1 + rate)^x

Answer 2

Okay, thank you :D

Answer 3

D Right? :P

Answer 4

think carefully

Answer 5

rate = 0.15
1 + rate = ?

Answer 6

1.15?

Answer 7

good, so which equation matches? 800(1.15)^x?

Answer 8

B? >.<

Answer 9

good

Answer 10

Yay :D