Answer:
Find out the what does the value 500 represent in this situation .
To prove
As given
The amount of money in a savings account after t years is represented by the function.
[tex]f(t)=500(1.015)^{t}[/tex]
Exponential function for amount is given by .
[tex]Amount = a (1 + r)^{t}[/tex]
Wher a is the initial value, r is the rate in decimal form and t is the time.
Compare the functions
[tex]f(t)=500(1.015)^{t}[/tex]
and
[tex]Amount = a (1 + r)^{t}[/tex]
Thus a = 500
Therefor $500 is the initial value .
