Question

PLS HELP 16 POINTS

EXTENDED RESPONSE. A musician is saving money to buy a new snare drum. The musician puts $100 in a savings account that pays 3% annual interest compounded yearly.
a. Write a function that models the amount of money in the account overtime.
b. Graph the function.
c. The musician wants a drum that costs $149.95. Will there be enough in the account after 3 years? Explain.

Answer 1

Explanation:

`a)\ y=100(1.03)^x\\ \\ b)\ y(3)=100(1.03)^3\\ \\ y(3)=\$ 109.27\\ \\ \text{So he will not have enough to buy a drum that costs $149.95 after three years.}`