An account is opened with $7,595.96 with a rate of increase of 2% per year. After 1 year, the bank account contains $7,746.90. Assuming no deposits or withdrawals are made, which equation can be used to find y, the amount of money in the account after x years? (Round money values to the nearest penny.)

For annual growth, use y = starting amount × (1 + rate)^x. The account starts with $7,595.96 and grows by 2%, so the growth factor is 1 + 0.02 = 1.02. Therefore, y = 7,595.96(1.02)^x, which is choice C. The amount after one year is about $7,747.88, so the stated $7,746.90 does not match the 2% increase, but it does not change the equation based on the given starting amount and rate.

AI-written and checked against the verified answer.