Question

Sara has $150 in her savings account. The amount in her account increases by %6 every year. If she does not put more money into her account, what will be the balance to the nearest dollar in her account after one year.

Answer 1

The answer is A) 159

Hope this helps!

Answer 2

$159

Explanation:

we know that

The equation of a exponential growth function is equal to

`y=a(1+r)^x`

where

y is the balance in the saving account

x is the number of years

a is the initial amount

r is the percent rate of change

we have

`a=\$150\\r=6\%=6/100=0.06`

substitute

`y=150(1+0.06)^x`

`y=150(1.06)^x`

For x= 1 year

substitute

`y=150(1.06)^1=\$159`