Question

The exponential function `f(x)= 15,000(1.02)^x` models the amount of money in a savings account over a period of time. What does the value 15,000 represent?

Answer 1

See explanation

Explanation:

The value `15,000` represents the sum of money put into the account at the beginning.

`0.02` represents the interest rate (`2%`), and `x` represents time