Answer:
Step-by-step explanation:
y=a*b^x
a=$2,000
This is the amount that the homeowner borrowed from the lender
b=This would be represented as 1.04 in decimal form
The reason why it is 1.04 is that the 1 aka 100% counts as 2,000 which is the whole thing as well as 0.04 or 4% percent of the total amount($2000)
x= You would leave this as x because they did not give a value and the equation is written so that it could be used to solve the amount of money owed after 'x' years or a certain number of years
Therefore the equation would be y=2000*(1.04)^x
