Question

An initial investment of $60.00 increases in value by 15% each year. Which of the following statements are true? Select all that apply.

This function can be represented by the quadratic equation f(x)=0.15(x+60)^2
This situation can be represented by the exponential function f(x)=60 x 1.15^x
This function has no x-intercept
After 4 years the value of the investment will be $120.00
After 6 years the value of the investment will be $653.00
After 7.86 years the value of the investment will be 3 times the initial value
After 8 years the value of the investment will be $184.00

Answer 1

This function canbe represented by the quadratic equation f(x)=0.15(x+60)^2; This situation can be represented by the exponential function f(x)=60 x 1.15^x; After 7.86 years the value of the investment will be 3 times the initial value.