Question

After 1 year, a bank account contains $7,746.90. After 2 years, the same account contains $7,901.84. Assuming no deposits or withdrawals are made, which equation can be used to find y, the amount of money in the account after x years? (Round money values to the nearest penny.)

y = 7591.96(1.02)x
y = 7591.96(0.02)x
y = 7595(1.02)x
y = 7595(0.02)x

Answer 1

the answer is C y = 7595(1.02)x

Explanation:

Answer 2

These are the choice given. I'll just substitute x with 1 and 2 to see if the amount corresponds to the given amount.A. y = 7591.96(1.02)x y = 7,591.96(1.02)¹ = 7,743.80 y = 7,591.96(1.02)² = 7,898.68
B. y = 7591.96(0.02)x y = 7,591.96(0.02)¹ = 151.84y =7,591.96(0.02)² = 3.04
C. y = 7595(1.02)x THIS IS THE CORRECT EQUATION.y = 7,595(1.02)¹ = 7,746.90y = 7,595(1.02)² = 7,901.84
D. y = 7595(0.02)x