+0

# The initial balance of a mutual fund is $1200. 0 663 3 +16 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?

Nov 18, 2018

#1
+2

y = \$1,200 x 1.02^x

Nov 18, 2018
#2
+770
+3

In LaTex, it would be​ $$y = 1, 200\cdot 1.02^x$$

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Nov 19, 2018
edited by PartialMathematician  Nov 19, 2018