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31 July, 23:12

The equation A = 1750 (1.04) t represents an account balance t years after the account was created.

Which statement is correct?

a

The account balance will increase 4% each year.

b

The account balance will decrease 4% each year.

c

The account balance will increase 0.04% each year.

d

The account balance will decrease 0.04% each year.

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Answers (1)
  1. 1 August, 01:20
    0
    The correct statement is A. The account balance will increase 4% each year.

    Step-by-step explanation:

    Let's recall that 1.04 is the result of adding:

    1 + 0.04 and, we can also write 0.04 as 4/100 or 4%,

    in consequence,

    1.04 = 1 + 4%, where we're increasing an additional 4%.

    The correct statement is A. The account balance will increase 4% each year.
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