A table shows the amount of money in a bank account after a certain number of years what is the initial value
Years. Amount
1. $1,080
2. $ 1,160
3. $ 1,240
To find the initial value in the bank account, we need to determine the starting amount before any interest or additional funds were added.
If we assume that the account had an initial amount of $x, we can set up and solve the following equation:
x + interest = final amount
Plugging in the values for year 1, year 2, and year 3:
For year 1: x + interest = $1,080
For year 2: x + interest = $1,160
For year 3: x + interest = $1,240
Since the interest remains constant in this scenario, we can subtract the interest value from each final amount to find the initial value:
For year 1: x = $1,080 - interest
For year 2: x = $1,160 - interest
For year 3: x = $1,240 - interest
Given the values for each year, it is not clear what the interest rate is or if it is compounded annually or monthly. Therefore, it is not possible to determine the exact initial value without additional information.