Question

A customer deposits $1,000 in an account in which the interest is compounded annually. The table below shows the balances in the account at the end of each year.

Amount in Account vs. Number of Years
Amount in Account, A
Number of Years After Initial Deposit, t
1,000
0
1,080
1
1,166.40
2
1,259.71
3
1,360.49
4



Which equation represents the data in the table?

Answer 1

The Correct answer is option A.) A=1000(1.08)^t

Answer 2

Not sure if there should be options, but the following equation represents the data in the table:
y = 1000 * (1.08)^x
When x = 0, y = 1000
When x = 1, y = 1080
When x = 2, y = 1,166.40, and so on.