Question

Adam opened a savings account at his bank with a guaranteed annual interest rate of 4.0% for 6 years. If he deposits $15,000.00 and the interest is compounded annually, the interest on the account is modeled by the function A = 15,000(1 + .04)t.

Find the domain and range of the function in the context given.

The answer choices are:

A)R:{0 ≤ t ≤ 18,979.79}; D{0 ≤ A ≤ 6}


B)D:{0 ≤ t ≤ 6}; R:{0 ≤ A ≤ 18,979.79}
C)R:{15,000 ≤ t ≤ 18,979.79}; D:{0 ≤ A ≤ 6}
D) D:{0 ≤ t ≤ 6}; R:{15,000 ≤ A ≤ 18,979.79}

Please do not just give an answer. Show me how to do this so that I can repeat the steps for future problems.

Answer 1

The answer is D.

Hope this helps :)

Explanation:

Answer 2

The domain of t is the years the account is active: 0 - 6 years. The domain of t sets the range of A.

When t = 0 A = 15,000.00
when t = 6 ; A = 18,979.79

So it's answer D.