Question

Meg invested $35,800 in a water park this year. After renovations, she expects her investment to be worth an additional 12% next year. Assuming it increases by 12% each year, you can use a function to approximate the value of Meg's investment x years from now.

Answer 1

(x) = $35,800 + (0.12 * $35,800) ^ x

Explanation:

Meg's investment journey is like planting a money tree that keeps growing.

1. Meg's Money Tree:

Imagine Meg planted a money tree, with an initial investment of $35,800.

2. Yearly Growth:

Every year, her money tree blossoms and grows by 12%. It's like getting a bonus on her investment.

3. Tracking the Growth:

To see how her money tree flourishes over time, we use a simple formula:

Total Value (T) = Initial Investment + (Annual Growth Rate * Initial Investment) ^ Number of Years (x)

4. The Bright Side:

The more years go by, the bigger her money tree becomes. It's a bright and optimistic outlook on her investment.

5. Calculating the Future:

If Meg wants to know how much her money tree will be worth in x years, she just needs to plug in the numbers:

T(3) = $35,800 + (0.12 * $35,800) ^ x

6. A Growing Investment:

Meg can look forward to her money tree growing, making her financial future brighter year by year.