Answer:
y = 1500 * 1.09^t
Step-by-step explanation:
It should be clear that the rate of change is non-linear, meaning that we can express the function in the following manner
y = a * b^t, where a is the initial value and b is the rate of change and t is how many years.
Well, year 0 is the rate of change so we can say that a = 1500
Next, we divide any two consecutive year balances to find our rate of change:
1635/1500 = 1.09
Therefore, our equation looks like this: y = 1500 * 1.09^t
