Build quadratic and exponential functions from context using explicit formulas, recursive processes, or calculation steps.
Build an exponential function from a starting amount and percent change
Problem
Model a \(\$900\) account growing \(6\%\) per year. Convert the percent to a decimal, add it to \(1\) for the yearly multiplier, write \(A(t)\), and check the starting balance and one-year value.
Big Picture
What this problem is really about
A percent increase must be converted into the full multiplier that retains the original amount and adds the growth portion. We’ll change the percent to a decimal, add it to one, attach the starting balance as the coefficient, and check the model at zero and one year.
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