Question

Osiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equation represents the amount of money in Josiah’s account, y, after x years?

Answer 1

Osiah invests $360 into an account that accrues 3% interest annually. He made no withdrawals or deposits.

Let the time is represented by x years and the amount in the account after x years is represented by y

The equation y = 360 * ( 1 + 0.03) ^ x represents the amount of money in the account after x years.

So,the required equation is y = 360 * ( 1 + 0.03) ^ x