Question

The expression 10,600(1.0385)x represents the amount of money in an investment account with interest that compounds annually for x years. Interpret the meaning of the expression

Answer 1

Answer: Find the answer below

Explanation:

10,600 is the initial or principal amount that you initially invested

1.0385 is the annual growth rate at which your investement grows each year (3.85 %)

x = represents the number of years

So, the expression calculates the future value of your investment after x years, taking into account the initial amount you invested ($10,600) and the annual growth rate (3.85%) that compounds annually for x years. The result is the total amount of money you would have in your investment account after x years of compounding interest.