An account is opened with $7,595.96 with a rate of increase of 2% per year. After 1 year, the bank account contains $7,746.90. Assuming no deposits or withdrawals are made, which equation can be used to find y, the amount of money in the account after x years? (Round money values to the nearest penny.) y = 7,746.90 (1.02) x y = 7,746.90 (0.02) x y = 7,595.96 (1.02) x y = 7,595.96 (0.02) x

Question

Mathematics

Jaeden Vaughn

6 June, 03:00

An account is opened with $7,595.96 with a rate of increase of 2% per year. After 1 year, the bank account contains $7,746.90. Assuming no deposits or withdrawals are made, which equation can be used to find y, the amount of money in the account after x years? (Round money values to the nearest penny.) y = 7,746.90 (1.02) x y = 7,746.90 (0.02) x y = 7,595.96 (1.02) x y = 7,595.96 (0.02) x

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Mike Mccormick · Answer 1

It's C

Step-by-step explanation:

y = 7,595.96 (1.02) x

the initial beginning value times. 02 after adding 1 to it so you would get 1.02 instead since it's an increase raised by x which indicates how many years it was to reach the new value.