A customer deposits $1,000 in an account in which the interest is compounded annually. The table below shows the balances in the account at the end of each year.

Amount in Account vs. Number of Years

Amount in Account, A

Number of Years After Initial Deposit, t

1,000

0

1,080

1

1,166.40

2

1,259.71

3

1,360.49

4

Which equation represents the data in the table?

Question

Mathematics

Big Foot

16 August, 05:42

A customer deposits $1,000 in an account in which the interest is compounded annually. The table below shows the balances in the account at the end of each year.

Amount in Account vs. Number of Years

Amount in Account, A

Number of Years After Initial Deposit, t

1,000

0

1,080

1

1,166.40

2

1,259.71

3

1,360.49

4

Which equation represents the data in the table?

+3

Answers (1)

Know the Answer?

Fletcher Villarreal · Answer 1

Not sure if there should be options, but the following equation represents the data in the table:

y = 1000 * (1.08) ^x

When x = 0, y = 1000

When x = 1, y = 1080

When x = 2, y = 1,166.40, and so on.