Joshua S.

asked • 10/30/22

Multiple questions for 1 exponential equation

  1. Alexia has $350 in a bank account. After one year, she has $350 ⋅ 1.02 = $357 dollars in the account. How much interest does the bank account earn each year as a percentage? 
  2. After two years, she has $350 ⋅ 1.02 = $364.14 dollars in the bank account. Suppose we wanted to know how much money Alexia had in the bank account after 4 years. How many times would we need to multiply by 1.02? 
  3. Suppose f(x)= A ⋅ B^x is an exponential function describing how much money Alexia will have in her bank account after x years. What would A and B be?

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