Suppose the amount of money in a bank account with an initial balance of $8,000 earns 2.5 percent interest per year. if the exponential function, y=a*b^x , is used to model this situation, which value would represent b in the function?

The value of B is 1.025.

Step-by-step explanation:

Given information:

Initial balance = $8000

Interest rate = 2.5% per year = 0.025

The general form of exponential function is

         .... (1)

where, A is initial value and B is growth factor.

It can also written as

      ... (2)

From (1) we get

Therefore the value of B is 1.025.

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