A student used f(= 5.00(1.012)x to show how the balance in a savings account will increase over time. What does the 5.00 represent?
A The interest the savings account earned for the first year
B The annual interest rate of the savings account
C The number of years the savings account has earned interest
D The starting balance of the savings account
Answer:D
A student used f(= 5.00(1.012)x to show how the balance in a savings account will increase over time. What does the 5.00 represent?
A The interest the savings account earned for the first year B The annual interest rate of the savings account C The number of years the savings account has earned interest D The starting balance of the savings account