Answer:
a) [tex]g(x) = 600 \cdot 1.05^x[/tex]
b) $2,593.17
Step-by-step explanation:
1) a) Using compound interest formula: [tex]y=a(1+r)^x[/tex]
where a is the starting amount, r is the rate in decimal format, and x is the number of years
Given:
- Starting amount = $600
- Annual return = 5% = 0.05
[tex]\implies g(x) = 600 \cdot 1.05^x[/tex]
b) when x = 30
[tex]g(x) = 600 \cdot 1.05^{30}=\$ 2,593.17[/tex]
