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The exponential regression equation y=307.60(1.11)^x models the dollar value of a retirement fund after x years. Which is best estimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made. ?

A. $310

B. $580

C. $1,880

D. $2,050

Respuesta :

Answer:

B. $580

Step-by-step explanation:

Value of the retirement fund after x years:

The value of the retirement fund after x years is given by the following function:

[tex]y(x) = 307.6(1.11)^x[/tex]

Which is best estimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made?

This is y(6). So

[tex]y(6) = 307.6(1.11)^6 = 575.34[/tex]

Close to $580, and thus, the correct answer is given by option B.

Answer:

B. $580 is best estimate for the value of the retirement fund after 6 years, if no additional deposits or withdrawals are made.

Thus it is little close to answer because actual answer is $575.34.

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