contestada

Jessica opened a bank account that earns 2 percent interest compounded annually. Her initial deposit was $100, and she uses the expression $100(x)^t to find the value for the account after t years.

what is the value of x in the expression?

Respuesta :

Answer:

x = 1.02.

Step-by-step explanation:

The x is a factor worked out from Β the annual interest Β written as a decimal fraction.

So we have Β 2% = 2/100 = 0.02.

The amount at the end of the first year is $100 + 0.02*100

= $100* 1.02, Β and in Β the second year it will be $100* 1.02^t Β where t = 2 and so on.

So we see that x in the given expression is 1.02.

Otras preguntas