Answer:
Find out the what does the value 500 represent in this situation .
To prove
As given
The amount of money in a savings account after t years is represented by the function.
\(f(t)=500(1.015)^{t}\)
Exponential function for amount is given by .
\(Amount = a (1 + r)^{t}\)
Wher a is the initial value, r is the rate in decimal form and t is the time.
Compare the functions
\(f(t)=500(1.015)^{t}\)
and
\(Amount = a (1 + r)^{t}\)
Thus a = 500
Therefor $500 is the initial value .
