asked 185k views
2 votes
Kevin makes an initial deposit into a saving account with an unnual interest rate. the amount of money in kevin's saving account, f(x), in dollars, can be modeled by the equation of function f(x)=250(1 0.02)^x. what does 0.02 represent in this situation?

2 Answers

5 votes

Answer:

The annual interest rate

answered
User Kasnady
by
7.8k points
7 votes
It represents the annual interest rate.
answered
User Princekin
by
8.8k points
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