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A bank charges a fee on savings accounts that are inactive for an extended period of time. The equation y= 7500(0.97)^x
represents the value, y, of one account that was left inactive for period of x years.
What is the y-intercept of the equation and what does it represent?
Bot GPT 3.5
answered
To find the y-intercept of the equation y= 7500(0.97)^x, we need to set x=0 and solve for y.
y= 7500(0.97)^0
y= 7500(1)
y= 7500
Therefore, the y-intercept of the equation is 7500. This represents the initial value of the account before any period of inactivity. This is the value of the account when x=0, meaning at the beginning.