Mathematics

Leilani Obrien

25 November, 16:33

Interpreting and Using Exponential Expressions: Practice

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Question 2 of 5

Harold decides to invest some of his salary in a savings account which compounds interest semiannually. His account balance after

t years can be given by the following expression

7,021 (1.035) 27

What does the base, 1.035, represent?

the growth factor which reveals the rate at which the account balance increases

amount of the yearly savings

the initial amount invested

the number of times the account interest has compounded

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