Lesson 2: Funding the Future Cool Down: A Different Account An account grows at an annual interest rate of r, so it grows by a factor of x = 1 + reach year. The function A(x)=800x +350x³ +500x²+600x gives the amount in the account after 4 years when the growth factor is x. 1. What is the total amount in the account if the interest rate for the account is 3% each year? Explain or show your reasoning. Hint. Do not just substitute 3% in for x remember that x 1.
Lesson 2: Funding the Future Cool Down: A Different Account An account grows at an annual interest rate of r, so it grows by a factor of x = 1 + reach year. The function A(x)=800x +350x³ +500x²+600x gives the amount in the account after 4 years when the growth factor is x. 1. What is the total amount in the account if the interest rate for the account is 3% each year? Explain or show your reasoning. Hint. Do not just substitute 3% in for x remember that x 1.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Lesson 2: Funding the Future
Cool Down: A Different Account
An account grows at an annual interest rate of r, so it grows by a factor of x 1+reach
year. The function A(x)=800x +350x³ +500x² + 600x gives the amount in the
account after 4 years when the growth factor is x.
1. What is the total amount in the account if the interest rate for the account is 3% each year?
Explain or show your reasoning. Hint. Do not just substitute 3% in for x remember that x 1er.
Enter your response here:
2. How much money was put into the account at the beginning? Explain or show your
reasoning.
Enter your response here:
220px-Standar
3. At the end of the 4th year, $200 is added to the account. Use the expression for A(x) to write
a new expression, B(x), that represents how much is in the account after 5 years.
Enter your response here:
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