Question

Mary deposits $550 in a savings account at 3% simple annual interest. The

value of this account, v, is given by the function v = 550 + 16.5t, in which t
is the number of years the money is in the bank. What is the domain &
range of this function?

Answer 1

Domain:
`t \geq 0`

Range:
`v \geq 550`

Explanation:

Given

`v = 550 + 16.5t`

Required

Determine the domain and the range

Solving for domain:

From the question, we understand that t represent years.

Because years can't be negative;

Then, we can conclude that the domain, t is:

`t \geq 0`

Solving for Range:

We solved domain to be
`t \geq 0`

This implies that the minimum value of t is
`t = 0` and the maximum is infinity

Substitute 0 for t in
`v = 550 + 16.5t`

`v = 550 + 16.5(0)`

`v = 550 + 0`

`v = 550`

Hence;

The range is
`v \geq 550`