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AlgebraQ&A Library2 Andy and Ena opened separate bank accountsthat earn compound interest. Andy'saccount can be modeled by the functionf(x) = 275(1.06)*. Ena's account can bemodeled by the function f(x) = 115(1.09)*.Which statement about the functions is true?The beginhing balances cannot bedetermined, but Andy's account earns ahigher annual interest rate thanEna's account.The beginning balances cannot bedetermined, but Ena's account earns ahigher annual interest rate than Andy'saccount.G.HAndy's account has a'higher beginningbalance, but Ena's account earns ahigher annual interest rate of 9%.A Andy's account has a higher beginning.balance, but Ena's account earns ahigher annual interest rate of 1.09%.Question

Asked Feb 7, 2020

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I would like assistance on my algebra homework.

Step 1

The amount(A) in the account after x years can be calculated as below, where P is the principal and interest rate is r% and the time of deposit is x.

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