A savings account is started with an initial deposit of $500. Theaccount earns 1.5% interest compounded annually.(a) Write an equation to represent the amount of money inthe account as a function of time in years.(b)Find the amount of time it takes for the account balanceto reach $800. Show your work.

### (a) Write an equation to represent the amount of money in the account as a function of time in…

Answered: A savings account is started with an…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.4: Geometric Sequences And Series

Problem 7SC

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