The equation A=1250(1.03)^7 is being used to calculate the amount of money in a savings account. What does the 1.03 represent in this equation?

Question

asked Apr 3, 2021 71.3k views

1 Answer

Landon Statis · Answer 1 · 2021-04-09T21:36:21+0000

Answer:

The amount of Interest

Explanation:

I'm 98% sure. It make sense because that how much interest ^7 you would multiply by 1250. And I've had questions like this. Hope this helps!