Answer:
$159
Step-by-step explanation:
we know that
The equation of a exponential growth function is equal to
[tex]y=a(1+r)^x[/tex]
where
y is the balance in the saving account
x is the number of years
a is the initial amount
r is the percent rate of change
we have
[tex]a=\$150\\r=6\%=6/100=0.06[/tex]
substitute
[tex]y=150(1+0.06)^x[/tex]
[tex]y=150(1.06)^x[/tex]
For x= 1 year
substitute
[tex]y=150(1.06)^1=\$159[/tex]
