An initial investment of $60.00 increases in value by 15% each year. Which of the following statements are true? Select all that apply. Round your answers to the nearest dollar.
Π This situation can be represented by the quadratic function f(x) = 0.15(x+60)2.
Π
This situation can be represented by the exponential function f(x) = 60.1.15*.
This function has no x-intercept.
After 4 years, the value of the investment will be $120.00.
After 6 years, the value of the investment will be $653.00.
After 7.86 years, the value of the investment will be about 3 times the initial value.
After 8 years, the value of the investment will be $184.00.
True statements:
- This situation can be represented by the exponential function f(x) = 60*1.15^x.
- After 4 years, the value of the investment will be $120.00.
- After 7.86 years, the value of the investment will be about 3 times the initial value.
False statements:
- This situation can be represented by the quadratic function f(x) = 0.15(x+60)^2.
- This function has no x-intercept.
- After 6 years, the value of the investment will be $653.00.
- After 8 years, the value of the investment will be $184.00.