The table below shows the average yearly balance in a savings
account where interest is compounded annually. No money is
deposited or withdrawn after the initial amount is deposited.
Year Balance, in Dollars
0 380.00
10 562.49
20 832.63
30 1232.49
40 1824.39
50 2700.54
Which type of function best models the given data?
(1) linear function with a negative rate of change
(2) linear function with a positive rate of change
(3) exponential decay function
(4) exponential growth function
account where interest is compounded annually. No money is
deposited or withdrawn after the initial amount is deposited.
Year Balance, in Dollars
0 380.00
10 562.49
20 832.63
30 1232.49
40 1824.39
50 2700.54
Which type of function best models the given data?
(1) linear function with a negative rate of change
(2) linear function with a positive rate of change
(3) exponential decay function
(4) exponential growth function