Mathematics, 28.05.2020 18:59 Celsie
$1,000 is deposited into a savings account. Interest is compounded annually. After 1 year, the value of the account is $1,020. After 2 years, the value of the account is $1,040.40. This scenario can be represented by an exponential function of the form f(x) = 1000(b)^x, where f(x) is the amount in the savings account, and x is time in years. What is the value of b ?
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$1,000 is deposited into a savings account. Interest is compounded annually. After 1 year, the value...
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