Gizmo is investing in TikTok stock. He plans on adding an additional $250 at the end of every year and the expected monthly rate of return i

Question

Gizmo is investing in TikTok stock. He plans on adding an additional $250 at the end of every year and the expected monthly rate of return is 8.3% of the amount invested, calculated at the end of the month. If he starts with $425 in the account, write an equation that models the amount of money in the account each month for the first year.

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Audrey 3 weeks 2022-01-08T20:15:48+00:00 2 Answers 0 views 0

Answers ( )

    0
    2022-01-08T20:17:11+00:00

    ANSWER:

    We have to write an equation of that models the amount of money in the account each month for the first year.

    We need the Exponential Equation Formula:–

    • y = a * bx

    Y is the amount of money in the account.

    a is the initial amount he starts with

    b is the amount being added each month

    x is the rate of return

    So, y = 425 * 2501.083

    0
    2022-01-08T20:17:12+00:00

    Answer:

    15/2

    Step-by-step explanation:

    The equation would be 425 x .83(12) + 250 because 425 is what he has at first, then times .83 which is what returns back to him each month, which .83 is multiplied by 12 which is how many months that are in a year plus 250 which is what he adds on after each year

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