Ask Question
23 June, 06:26

osiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equation represents the amount of money in Josiah's account, y, after x years? y = 360 (1.3) x y = 360 (0.3) x y = 360 (0.03) x y = 360 (1.03) x

+2
Answers (1)
  1. 23 June, 09:59
    0
    The standard compound interest formula is

    Future value after x years with an annual interest of i

    =Present Value (1+i) ^x [which is an exponential function]

    for given present value of $360. interest=0.03 (3%) and a total of x years, above equation reduces to

    Future value after x years

    =360 (1.03^x)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “osiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equation ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers