The amount of money in a savings account after tyears is represented by the function(t) = 500(1. 015)'. What does the value 500 represent in the situation? The amount of money in the savings account decreases by $500 each year. The amount of money in the savings account is 500 times the amount of the previous year. The initial amount in the account is $500. The amount of money in the savings account increases by $500 each year.

The amount of money in a savings account after tyears is represented by the function(t) = 500(1. 015)'. What does the value 500 represent in the situation? The amount of money in the savings account decreases by $500 each year. The amount of money in the savings account is 500 times the amount of the previous year. The initial amount in the account is $500. The amount of money in the savings account increases by $500 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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Question

The amount of money in a savings
account after tyears is represented by
the function(t) = 500(1.015)'.
What does the value 500 represent in
the situation?
The amount of money in the
savings account decreases by
$500 each year.
The amount of money in the
savings account is 500 times the
amount of the previous year.
The initial amount in the account
is $500.
O The amount of money in the
savings account increases by
$500 each year.

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