The expression 10,785(1.0275)x represents the amount of money in an investment account with interest that compounds annually for x years. interpret the meaning of the expression.
a.
the initial investment is $10,275, and the growth rate of the investment is 1.0785%.
b.
the initial investment is $10,275, and the growth rate of the investment is 7.85%.
c.
the initial investment is $10,785, and the growth rate of the investment is 1.0275%.
d.
the initial investment is $10,785, and the growth rate of the investment is 0.0275%.
e.
the initial investment is $10,785, and the growth rate of the investment is 2.75%.