Question

Samantha won a trip to Europe in a contest she had entered. Rather than take the trip, she opted to take the cash value of the prize and put it in

savings account she uses as a college fund. She plans to keep this money in the college fund and let it earn interest for 8 years. At the end of
8 years, she'll use the total balance to help pay for tuition at law school

Answer 1

Domain : 0 ≤ x ≤ 8

Range : 5450 ≤ f(x) ≤ 6588.65

Explanation:

Expression representing the money Samantha collected after x years is,

f(x) =
`5450(1.024)^(x)`

Time 'x' duration for the investment starts from t = 0 and ends at 8 years, so the domain of the given function will be,

Range : 0 ≤ x ≤ 8

Money collected in the fund from 0 to 8 years is,

f(0) =
`5450(1.024)^(0)`

= $5450

f(8) =
`5450(1.024)^(8)`

= $6588.6

Therefore, range of the graphed function will be,

Range : 5450 ≤ f(x) ≤ 6588.65