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Two-Variable Data: Models and Scatterplots

SAT Math· difficulty 4/5

A bank account grows by 4% per year. Starting with 1000 dollars, the value after tt years is best modeled as:

  • A

    y=1000+0.04ty = 1000 + 0.04t

  • B

    y=1000(0.96)ty = 1000(0.96)^t

  • C

    y=1000+4ty = 1000 + 4t

  • D

    y=1000(1.04)ty = 1000(1.04)^t

    check_circle

Explanation

Compound growth: y=P(1+r)t=1000(1.04)ty = P(1+r)^t = 1000(1.04)^t.

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