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17 July, 07:05

The equation A = 1750 (1.04) ^t represents an account balance t years after the account was created. Which statement is correct?

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  1. 17 July, 07:23
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    The correct statement is D. The account balance will increase 4% each year.

    Correct statement and question:

    The equation A = 1750 (1.04) ^t represents an account balance t years after the account was created.

    Which statement is correct?

    A. The account balance will decrease 0.04% each year.

    B. The account balance will increase 0.04% each year.

    C. The account balance will decrease 4% each year.

    D. The account balance will increase 4% each year.

    Source:

    Tennessee Comprehensive Assessment Program - Algebra I Practice Test

    Step-by-step explanation:

    Let's recall that 1.04 is the result of adding:

    1 + 0.04 and, we can also write 0.04 as 4/100 or 4%,

    in consequence,

    1.04 = 1 + 4%, where we're increasing an additional 4%.

    The correct statement is D. The account balance will increase 4% each year.
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