Question

Jacob deposits $60 into an investment account with an interest rate of 4%, compounded annually. The equation can be used to determine the number of years it takes for Jacob's balance to reach a certain amount of money . Jacob graphs the relationship between time and money.

What is the -intercept of Jacob's graph?
If Jacob doesn't deposit any additional money into the account, how much money will he have in eight years? Round your answer to the nearest cent.

Answer 1

y intercept is where x=0 or the initial value

which is 60 because we gots

y=60(1)

y=60

y intercept is at y=60

8 years is x=8

y=82.114

round

y=82.11

answer:

y intercept is y=60

after 8 years, has $82.11