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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