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Mathematics, 04.02.2020 12:57 rico126090

Cressida decided to save a part of her income in a savings account that compounds interest every four months. her account balance after t years can be given by the following expression.

3,545(1.045)3t

what does the value 3 in the exponent represent?

a.
the amount saved each year
b.
the number of times the account compounds interest
c.
the growth factor that reveals the rate at which the account balance increases
d.
the initial amount invested

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Answers: 2

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