The equation A = 1300(1.02)" is being used to calculate the amount of money in a savings account. What does 1.02 represent in this equation? 1) 0.02% decay 2) 0.02% growth 3) 2% decay 4) 2% growth 3.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 7RE: Does the equation y=2.294e0.654t representcontinuous growth, continuous decay, or neither?Explain.
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3.
The equation A = 1300(1.02)’ is being used to
calculate the amount of money in a savings
account. What does 1.02 represent in this
equation?
1) 0.02% decay
2) 0.02% growth
3) 2% decay
4) 2% growth
Explain why you chose your answer.
Transcribed Image Text:3. The equation A = 1300(1.02)’ is being used to calculate the amount of money in a savings account. What does 1.02 represent in this equation? 1) 0.02% decay 2) 0.02% growth 3) 2% decay 4) 2% growth Explain why you chose your answer.
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