### Home > CCA > Chapter 7 > Lesson 7.1.5 > Problem 7-63

7-63.

Kristin’s grandparents started a savings account for her when she was born. They invested $500 in an account that pays 8% interest compounded annually. Homework Help ✎

Write an equation to model the amount of money in the account on Kristin’s

*x*^{th}birthday.*y*= 500(1.08)^{x}How much money is in the account on Kristin’s 16

^{th}birthday?Substitute 16 for

*x*.What are the domain and range of the equation that you wrote in part (a)?

If you were to make a table of values for this situation, what would your minimum/maximum values be?