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

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Verified Answer :

wolf1728 wolf1728 · Answer 1 · 2017-02-19T13:16:50-05:00

total = 800 * (1.15)^t
The second choice down is the answer.

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JeanaShupp JeanaShupp · Answer 2 · 2019-02-19T06:09:09-05:00

Answer: $A(x)=800(1+0.15)^x$where 0.15 is the interest rate
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Step-by-step explanation:

Given: A savings account compounds interest, at a rate of 15%, once a year. Elizabeth puts $800 in the account as the principal.

Principal amount =$800

r=15% = 0.15

We know that the compound amount after x years will be given by the exponential function as:-

$A(x)=P(1+r)^x$, where r is the rate of interest in decimal.

Therefore, function according to the given information will be

$A(x)=800(1+0.15)^x$