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22 April, 03:59

A=130 (1.05) ^x by what percent does the balence increase each year?

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  1. 22 April, 04:14
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    5%

    Step-by-step explanation:

    The question showing a growing function that commonly used in compound interest calculation. The formula for compound interest is:

    A = P (1 + r) ^ t

    A = amount of the balance after a period of t

    P = principal, the initial money deposit

    r = rate

    t = time

    The percent of balance increase should be represented by the rate (r). In this equation, the principal will be 130, (1+r) will be 1.05, and time will be x.

    The value of rate (r) will be:

    (1+r) = 1.05

    r = 1.05-1 = 0.05 = 5%
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