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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?

lightningpercy3  Nov 18, 2018
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y = $1,200 x 1.02^x

Guest Nov 18, 2018
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In LaTex, it would be‚Äč \(y = 1, 200\cdot 1.02^x\)

PartialMathematician  Nov 19, 2018
edited by PartialMathematician  Nov 19, 2018

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