Answer:
Compound interest formula
[tex]\sf A=P(1+\frac{r}{n})^{nt}[/tex]
where:
- A = final amount
- P = principal
- r = interest rate (in decimal form)
- n = number of times interest applied per time period
- t = number of times periods elapsed
Given:
- A = y
- P = $8,000
- r = 4.5% = 0.045
- n = 1
- t = x
Substitute given values into the equation:
[tex]\implies y=8000(1+\frac{0.045}{1})^x[/tex]
[tex]\implies y=8000(1.045)^x[/tex]
So the graph will have a y-intercept of (0, 8000)
