Question

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?

Answer 1

[AI-generated answer — Bot GPT 3.5]

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.