Question

The amount of money in a savings account after t years is represented by the function f(t)=500(1.015)^t. What does the value 500 represent in this situation?

Answer 1

Answer: the initial amount in the account is $500

Step-by-step explanation: I took the test

Answer 2

Find out the what does the value 500 represent in this situation .

To prove

As given

The amount of money in a savings account after t years is represented by the function.

`f(t)=500(1.015)^(t)`

Exponential function for amount is given by .

`Amount = a (1 + r)^(t)`

Wher a is the initial value, r is the rate in decimal form and t is the time.

Compare the functions

`f(t)=500(1.015)^(t)`

and

`Amount = a (1 + r)^(t)`

Thus a = 500

Therefor $500 is the initial value .