Question

Select the equation that represents the following: Joey has $400 in a bank account that earns 8% in annual interest.

Answer 1

hello

to solve this question, we would use the formula of simple interest

`\begin{gathered} si=\text{p(1+rt)} \\ p=\text{principal}=400 \\ r=\text{rate}=8\text{ \% = }(8)/(100)=0.08 \\ t=x \end{gathered}`
`\begin{gathered} f(x)=400(1+0.08)^x \\ f(x)=400(1.08)^x \end{gathered}`

the answer to this question is option D