### Home > CC4 > Chapter 8 > Lesson 8.2.1 > Problem 8-98

8-98.

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.How much money is in the account on Kristin’s 16

^{th}birthday?What are the domain and range of the equation that you wrote in part (a)?

Sketch a graph of this situation.

*y* = 500(1.08)^{x}

Substitute 16 for *x*.

Read Math Notes box in Lesson 1.2.5 for definition of domain and range.

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