Josiah invests $360 into an account that accrues 3% interest annually. Assuming no deposits or withdrawals are made, which equation represents the amount of money in Josiah’s account, y, after x years?

With 3% annual interest, the account is multiplied each year by 1 + 0.03 = 1.03. Starting with $360, the amount after x years is y = 360(1.03)^x, so the correct choice is “y = 360(1.03)^x.”

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