The amount in the savings account set up for a first time saver can be represented by the function A(n)=8(1.05)nA(n)=8(1.05)n, where nn is the number of years the money has been invested. Evan says that this means that 8 dollars was invested and the bank account increased by 5 dollars every year. Which statement shows the error Evan made and gives the correct explanation?

The amount in the savings account set up for a first time saver can be represented by the function A(n)=8(1.05)nA(n)=8(1.05)n, where nn is the number of years the money has been invested. Evan says that this means that 8 dollars was invested and the bank account increased by 5 dollars every year. Which statement shows the error Evan made and gives the correct explanation?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section4.2: Modeling With Linear Functions

Problem 28SE: For the following exercises, consider this scenario: The number of people afflicted with the common...

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