cristymarinee7508 cristymarinee7508
  • 24-01-2020
  • Mathematics
contestada

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.

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andrew8253 andrew8253
  • 31-01-2020

Answer:

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

Step-by-step explanation:

Total investment of Kevin is $4000.

The annual interest rate is 6.8%.

At the end of each year, [tex]\frac{4000\times6.8}{100} = 40\times6.8 = 4\times68 = 272[/tex] 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).

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