Question

George invests $2000 in an account with an interest rate of 5%. Which best represents this?

Y=2000(1.05)^x
Y=2000(.05)^x
Y=2000+ 0.5^x
Y=2000(.95)^x

Answer 1

Y=2000(1.05)^x

Explanation:

This is because 2000 is the fixed beginning value and should stay by itself.

While the interest rate of 5% is 1.05 because the amount of money George will have will be going up based on the fixed beginning value.