Question

3. Open Response Rebecca's savings account

pays a simple annual interest rate of 2.5%.
Suppose she deposits $4,280 in the account
and makes no additional deposits or
withdrawals
for 4 years. What will the total
value of the account be after 4 years? (Lesson 5)

Answer 1

The final answer will be 4724.319
You will be using the formula y=ab^x
And plug your starting value or y-intercept in for A. Your B is the rate of interest since she is gaining and not decreasing value it will be over 1 so here it is 1.025. Finally your x power is rate of time which in this case is 4. Plug it all in to a calc and you get an answer of 4724.319