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.
