Question

The function f(x)=206(1.034)^x models the value, in dollars, of a certain bank account by the end of each year from 1957 through 1972, where x is the number of years after 1957. Which of the following is the best interpretation of " f(5) is approximately equal to 243 " in this context?

A) The value of the bank account is estimated to be approximately 5 dollars greater in 1962 than in 1957.

B) The value of the bank account is estimated to be approximately 243 dollars in 1962.

C) The value, in dollars, of the bank account is estimated to be approximately 5 times greater in 1962 than in 1957.

D) The value of the bank account is estimated to increase by approximately 243 dollars every 5 years between 1957 and 1972.

Answer 1

The statement 'f(5) is approximately equal to 243' means that the value of the bank account is estimated to be about 243 dollars in 1962.

Step-by-step explanation:

The correct interpretation of "f(5) is approximately equal to 243" in this context is that the value of the bank account is estimated to be approximately 243 dollars in the year 1962. Since x represents the number of years after 1957, f(5) would represent the bank account value by the end of 5 years after 1957, which is 1962. Option B is the best interpretation among the given choices.