Consider the function y = 1.05 (x/12), which represents the growth of capital in a bank account.
The annual interest is __%,
a. 12
b. 105
c. 1.05
d. 5
and the bank compounds the interest__.
a. annually
b. continuously
c. daily
d. monthly
The balance of the account will grow __.
a. logarithmically
b. exponentially
c. asymptotically
d. linearly
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