Jacob deposits $60 into an investment account with an interest rate of 4%, compounded annually. the equation,
y = 60(1 + 0.04)x, can be used to determine the number of years, x, it takes for jacob's balance to reach a certain amount of money, y. jacob graphs the relationship between time and money.

what is the y-intercept of jacob's graph?
if jacob doesn't deposit any additional money into the account, how much money will he have in eight years? round your answer to the nearest cent.