Answer:
The expression is y(x) = 2400*(1.12)^x
Step-by-step explanation:
The initial amount is:
y(0) = 2400
After the first month it is:
y(1) = y(0)*(1 + 12/100) = 2400*(1 + 0.12) = 2400*(1.12)
After the second month it is:
y(2) = y(1)*(1.12) = y(0)*(1.12)*(1.12) = y(0)*(1.12)²
After the third month it is:
y(3) = y(2)*(1.12) = y(0)*(1.12)²*(1.12) = y(0)*(1.12)³
After "x" months, we have:
y(x) = y(0)*(1.12)^x
y(x) = 2400*(1.12)^x
