Answer:
y = 360(1.03)x
Step-by-step explanation:
[tex]F = P x (1 + i)^n[/tex]
F is the future worth, P is the present worth, I will be the interest rate, and n is the number of years. [tex]F = ($360)(1.03)^x[/tex]
The principal amount of the money = $360
Annual rate of interest = 3%
Thus, the amount after x years which is increased by 3%.
Since, this amount represented by y,
The required equation that represents the amount of money in Josiah’s account, y, after x years is, [tex]= 360(1+\frac{3}{100} )^x\\ = 360(1+0.03 )^x\\ = 360(1.03 )^x[/tex]
This amount represented by y,
Therefore, the required equation that represents the amount of money in Josiah’s account, y, after x years is,
[tex]y = 360(1.03 )^x[/tex]
Hope this helps you!
Have a nice evening! ;)
