A family invested $2,000 into an account that pays 2% interest compounded annually. In the functions below, x = time in years and y = total amount in
the account after x years.
y = 40x + 2,000
y = 2,000(1.02)
Use the function that models the situation correctly. To the nearest dollar,
how much money is in the family's account after 5 years?
A.
$2,081
B.
$2,200
C.
$2,208
D. $10,200