An account grows at an annual interest rate of r, so it grows by a factor of x =1+r each year. The function A(x) = 800x4 + 350x3 + 500x2 + 600x gives the amount in the account after 4 years when the growth factor is x . 1. What is the total amount in the account if the interest rate for the account is 3% each year? 2. How much money was put into the account at the beginning? 3. After 5 years, $200 is added to the account. Use the expression for A(x) to write a new expression B(x) that represents how much is in the account after 5 years.
An account grows at an annual interest rate of r, so it grows by a factor of x =1+r each year. The function A(x) = 800x4 + 350x3 + 500x2 + 600x gives the amount in the account after 4 years when the growth factor is x . 1. What is the total amount in the account if the interest rate for the account is 3% each year? 2. How much money was put into the account at the beginning? 3. After 5 years, $200 is added to the account. Use the expression for A(x) to write a new expression B(x) that represents how much is in the account after 5 years.
Chapter5: Exponential And Logarithmic Functions
Section5.5: Exponential And Logarithmic Models
Problem 30E: The table shows the mid-year populations (in millions) of five countries in 2015 and the projected...
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Transcribed Image Text:An account grows at an annual interest rate of r, so it grows by a factor of x =
1+r each year. The
function A(x) = 800x4 + 350x³ + 500x² + 600x gives the amount in the account after 4 years when
the growth factor is x .
1. What is the total amount in the account if the interest rate for the account is 3% each year?
2. How much money was put into the account at the beginning?
3. After 5 years, $200 is added to the account. Use the expression for A(x) to write a new expression
B(x) that represents how much is in the account after 5 years.
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