Question

Write a real world situation for the function f(x) = 3(1.06x) + 2. Be sure to identify all key features of the function as what they represent in your situation.

Please help!!!

Answer 1

Putting money in a bank and earning interest

Explanation:

This problem can be used in real life to describe when you put money in a bank, in this case, it could be two dollars, and leave it there for x amount of years, then taking it out after an amount of years and checking what you have. Since this is a linear equation, your money doesn't go up exponentially. It'll keep going up the same rate for the whole time until you decide to take it out. Here's an example of what it'll look like, if it helps:

• Before interest: You put in $2
• First year: You have $5.18 in the bank
• Second year: $8.36
• Third year: $11.54

Your money keeps going up. Hope this helps!