A bank account earns interest at a rate of 3.5% per year in other words interested in value by the percent and starts with a balance of $350. Which of the following equations would the accounts worth, W, as a function of the numbers of years, y, it has been gaining interest?
1) W = 350 (1.035) y
2) W=350 (0.35) y
3) W=1.035y+350
4) W=1.35y+350
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