MATH SOLVE

4 months ago

Q:
# The initial balance of a mutual fund is $1200. The fund is expected to grow in value at an annual rate of 2%.Let x represent the number of years since the fund was started. Let y represent the value of the fund x years later.What equation models the value of the mutual fund x years after it was started?

Accepted Solution

A:

1200 + .02x = y

The 1,200 has nothing done to and just added in the equation since it's the initial balance. The annual rate is 2% and in decimal form that's .02. x is years so years is multiplied by the 2% fee since the fee is annual. Then this equals the value of the fund x years later which is y. Hopefully all of that made sense XD

Happy Holidays!

The 1,200 has nothing done to and just added in the equation since it's the initial balance. The annual rate is 2% and in decimal form that's .02. x is years so years is multiplied by the 2% fee since the fee is annual. Then this equals the value of the fund x years later which is y. Hopefully all of that made sense XD

Happy Holidays!