Answer:
y = 7,595.96(1.02)x
Step-by-step explanation:
y = 7,595.96(1.02)x
a normal linear equation is basically y = x + b
in this case,
- y = amount of money in the bank account
- x = number of years
- b is not required because there are no new deposits or withdrawals from the account
Since the accounts earns 2% interest per year, then you need to multiply the original amount by 1.02. As more years pass, the account will increase by 1.02, so the account increases by 1.02x. Since the original amount is $7,595.96, that will be our starting point.
