Mathematics

7 May, 10:31

Qiaochu invested some money in a bank account. The relationship between the elapsed time, t, in months, since Qiaochu invested the money, and the total amount of money in the account, M (t), in dollars, is modeled by the following function:

M (t) = 3200 (1.02) t

Complete the following sentence about the monthly percent change in the amount of money in the account.

Every month,

% of money is

the total amount of money in the account.

+3

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