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A bank deposit that earns that earns interest annually is given by the function f(x)=1500(1.04)^x . What is the initial deposit? a. $1,500 b. $1.04 c. $1,560 d. $40
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A bank deposit that earns that earns interest annually is given by the function f(x)=1500(1.04)^x . What is the initial deposit?

a. $1,500
b. $1.04
c. $1,560
d. $40

User Raserhin
by
6.1k points

2 Answers

4 votes
x=0 (initial) f(x)=1500
User Binson Eldhose
by
5.6k points
4 votes
$1500 because the annual interest rate is 4%

User Holex
by
6.1k points
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