9514 1404 393
Answer:
y = 2200(1.08^t)
Step-by-step explanation:
The interest earned the first year is ...
(2376 -2200)/2200 = 0.08 = 8%
The balances the remaining years are consistent with that interest being compounded annually. An appropriate function is ...
y = 2200(1.08^t)
_____
The compound interest formula is ...
A = P(1 +r/n)^(nt) . . . . principal P earning rate r compounded n times per year for t years
