Answer:
[tex]y = 700(1.043^x)[/tex]
See attachment for graph
Step-by-step explanation:
Given
[tex]a = 700[/tex] --- First Term
[tex]r = 4.3\%[/tex] --- Rate
Required
Determine the equation that represents the scenario
The above scenario is an illustration of an exponential sequence and its nth term can be represented using:
[tex]y = ab^x[/tex]
Where
[tex]b = 1 + r[/tex]
Substitute 4.3% for r
[tex]b = 1 + 4.3\%[/tex]
Convert % to decimals
[tex]b = 1 + 0.043[/tex]
[tex]b = 1.043[/tex]
Substitute values of a and b in [tex]y = ab^x[/tex]
[tex]y = 700 * 1.043^x[/tex]
[tex]y = 700(1.043^x)[/tex]
See attachment for graph