mormant mormant

19-09-2022
Mathematics

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Samra's guardians invested money for her into a 529 College Savings Plan, which compounds annually. The growth of the savings plan per year, x, can be represented by the exponential function f(x) = 500(1.03)x. What is the meaning of the y-intercept in the context of the problem?
The percent rate of change is 500%.
The initial value of the investment is $500.
The principal amount put into the savings plan is $1.03.
The average rate of change that is occurring is 1.03.

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