susan earns 0.5% interest annually in her savings account. she can model her savings account balance after…

susan earns 0.5% interest annually in her savings account. she can model her savings account balance after earning interest for a year as f(x) = x + 0.005x, or just f(x) = 1.005x, where x is the account balance.\na. what will be her account balance after a year if she started with $30,000 in her account?\nb. what if she started with only $500?

susan earns 0.5% interest annually in her savings account. she can model her savings account balance after earning interest for a year as f(x) = x + 0.005x, or just f(x) = 1.005x, where x is the account balance.\na. what will be her account balance after a year if she started with $30,000 in her account?\nb. what if she started with only $500?

Answer

Explanation:

Step1: Identify the formula

The formula for the account - balance after one year is $f(x)=1.005x$, where $x$ is the initial account - balance.

Step2: Solve part a

Substitute $x = 30000$ into the formula $f(x)=1.005x$. $f(30000)=1.005\times30000 = 30150$

Step3: Solve part b

Substitute $x = 500$ into the formula $f(x)=1.005x$. $f(500)=1.005\times500=502.5$

Answer:

a. $30150$ b. $502.5$