E Martin opened a money market account. Martin's investment account balance, to the nearest dollar, can be determined using the exponential function f(x) = 1000(1.06)* where x represents the number of years the money is left to grow untouched in the account. Which of the following best %3D represents the meaning of the value 1,000 in the function? F The interest rate. G The number of years the investment needs to grow. H The initial deposit used to open the account. J The number of times the interest will compound, or be calculated, each year.
E Martin opened a money market account. Martin's investment account balance, to the nearest dollar, can be determined using the exponential function f(x) = 1000(1.06)* where x represents the number of years the money is left to grow untouched in the account. Which of the following best %3D represents the meaning of the value 1,000 in the function? F The interest rate. G The number of years the investment needs to grow. H The initial deposit used to open the account. J The number of times the interest will compound, or be calculated, each year.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Transcribed Image Text:8 Martin opened a money market account.
Martin's investment account balance, to
the nearest dollar, can be determined using
the exponential function f(x) = 1000(1.06)*
where x represents the number of years
%3D
the money is left to grow untouched in the
account. Which of the following best
represents the meaning of the value 1,000
in the function?
F The interest rate.
G The number of years the investment
needs to grow.
H The initial deposit used to open the
account.
The number of times the interest will
compound, or be calculated, each year.
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