Question

Kevin invests $4,000 at a 6.8% annual interest rate. The interest is added at the end of each year. Write an equation for the amount of money after x years.

Answer 1

The equation can be shown by the function f(x) = 4000 + 272x; where x is the number of the year.

Explanation:

Total investment of Kevin is $4000.

The annual interest rate is 6.8%.

At the end of each year,
`(4000*6.8)/(100) = 40*6.8 = 4*68 = 272` will be added with the amount.

Thus, at the end of x year $272x will be added.

The amount of money at the end of x year will be $(4000 + 272x).