You invest $850 into a stock market fund, which grows at a rate of approximately 4% each year. Write an equation that can be used to calculate the amount of money in the fund after x years

We have been given that you invest $850 into a stock market fund, which grows at a rate of approximately 4% each year. We are asked to write an equation that can be used to calculate the amount of money in the fund after x years.

We will use exponential growth formula to solve our given problem.

An exponential function is in form , where,

y = Final amount,

a = Initial amount,

r = Growth rate in decimal form,

x = Time.

Let us convert 4% into decimal.

.

We have and , so our equation would be:

Therefore, the equation can be used to calculate the amount of money in the fund after x years.

question:

could we have options?

answer: 177/8

step-by-step explanation: