Question

By use of technology, we investigated Mary’s investment and created the model, M(x) = 3.03(1.28)2x, in thousands of dollars. What was Mary’s initial investment?

Answer 1

Answer: Mary’s initial investment = $,3030

Explanation:

Given: By use of technology, we investigated Mary’s investment and created the model,
`M(x) = 3.03(1.28)^(2x)`

To find the initial investment, we substitute x =0, we get

`M(0) = 3.03(1.28)^(2(0))=3.03\text{ thousands of dollars}\\\\=3.03*1000=\$3,030`

Hence, Mary’s initial investment = $,3030

Answer 2

In this item, we are given with the exponential equation that predicts the amount that Mary is able to obtain through her initial investment. The characters are well identifiable. 3.03 is the initial investment, 28% is the rate and x is the number of years. Thus, the answer is 3.03.