question down there to big for up here...?

5 ⤊

question down there to big for up here...?

You put $5,000 in a bank account which pays 6% interest per year. Find the defining equation of the function f which describes how much money you will have in the bank after x years.

2007-01-19 09:16:28 · 2 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics

2 answers

P = 5000(1.06)^x

2007-01-19 09:20:37 · answer #1 · answered by ironduke8159 7 · 2⤊ 0⤋

f(x) = 5000 ( 1+ 0.06)^x = 5000(1.06)^x .

2007-01-19 19:15:55 · answer #2 · answered by Anonymous · 3⤊ 2⤋