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b. If the savings in a bank account can be modeled by the function S(t) 250 (1.045)'. Which of the following is true? Based on the context what is: X (1) The initial amount deposited was $250 and the interest earned is 45% (2) The initial amount deposited was $2.50 and the interest rate is 4.5%. (3) The initial amount deposited was $250 and the interest rate is 4.5%. (4) The initial amount deposited was $2.50 and the interest rate is 45%.

b. If the savings in a bank account can be modeled by the function S(t) 250 (1.045)'. Which of the following is true? Based on the context what is: X (1) The initial amount deposited was $250 and the interest earned is 45% (2) The initial amount deposited was $2.50 and the interest rate is 4.5%. (3) The initial amount deposited was $250 and the interest rate is 4.5%. (4) The initial amount deposited was $2.50 and the interest rate is 45%.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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b. If the savings in a bank account can be modeled by the function S(t) 250 (1.045)'. Which of the following is true? Based on the context what is: X (1) The initial amount deposited was $250 and the interest earned is 45% (2) The initial amount deposited was $2.50 and the interest rate is 4.5%. (3) The initial amount deposited was $250 and the interest rate is 4.5%. (4) The initial amount deposited was $2.50 and the interest rate is 45%.
Transcribed Image Text:b. If the savings in a bank account can be modeled by the function S(t) 250 (1.045)'. Which of the following is true? Based on the context what is: X (1) The initial amount deposited was $250 and the interest earned is 45% (2) The initial amount deposited was $2.50 and the interest rate is 4.5%. (3) The initial amount deposited was $250 and the interest rate is 4.5%. (4) The initial amount deposited was $2.50 and the interest rate is 45%.
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