Question

The data points show the amount of money y (in dollars) in an account after a time x (in years).Each figure has the same data points.However, each figure has a different curve fitting the data.The equation for each curve is also shown.Answer the questions that follow.

Answer 1

(a) From the slope of the graph, we can see that this is an exponential function

So, the function that best fits the graph is

`y=601(1.05)^x`

Hence the answer to (a) is Figure 1

(b) From the graph of the function we selected, where y represents the amount of money and x the number of years. To get the amount of money, we will substitute x for 18 into the quatiomn, we have

`\begin{gathered} y=601(1.05)^x \\ y=601(1.05)^(18) \\ y=601*2.406619234 \\ y=1,446.378159448 \end{gathered}`

Hence the answer is $1,446.38