Question

Five years ago, Mrs. Varner deposited $q$ dollars in a bank account that has been earning annual interest. The total value of the account is based on the function f(x) = q • 1.025x, where x represents the number of years the money has been in the account. If no deposits or withdrawals have been made since the initial deposit, which equation represents the total value of the account?

Answer 1

The total value of the account is based on the function f(x) = q • 1.025x, where x represents the number of years the money has been in the account.

Since the deposit was done five years ago, the total value of the account = f(5)

= q • 1.025(5) = 1.125q

Answer 2

F(5)=q*(1.025)^(5)
F(5)=1.131 q