SOLUTION: Describe an investment that could be represented by the function f(x)=1200(1.065)^x. I'm wondering if they're asking to solve for x or something else? I'm assuming the rate is

Algebra ->  Finance -> SOLUTION: Describe an investment that could be represented by the function f(x)=1200(1.065)^x. I'm wondering if they're asking to solve for x or something else? I'm assuming the rate is       Log On


   

Question 314634: Describe an investment that could be represented by the function f(x)=1200(1.065)^x.
I'm wondering if they're asking to solve for x or something else? I'm assuming the rate is 1-1.065= 0.065 which means the rate is 6.5% and the principle is P=1200.
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
The problem simply asks for you to describe the equation in words:
An investment of $1200 is made with an expected return of 6.5% per annum.
Here
f(x)=1200(1.065)^x
f(x) is the return on investment (plus prinicple) based on x years.