Question

Cressida decided to save a part of her income in a savings account that compounds interest every four months. Her account balance after t years can be given by the following expression.

3,545(1.045)3t

What does the value 3 in the exponent represent?

A.
the amount saved each year
B.
the number of times the account compounds interest
C.
the growth factor that reveals the rate at which the account balance increases
D.
the initial amount invested

Answer 1

I believe it would be B. If I'm correct, whenever it says something like 3t, you have to multiply the 3 by the unknown number (t) once you know what it is. I'm not 100% sure about this so trust someone else before you trust me because i would hate for you to listen to me and get it wrong...

Hope This Helps,

Cupkake~

Answer 2

B. the number of times (per year) the account compounds interest

Explanation:

The given expression has no exponent. We assume you intend ...

balance = 3,545·1.045^(3t)

This expression for the account balance suggests Cressida invested 3,545 into an account paying interest at an annual rate of 13.5%, compounded 3 times per year. The 3 multiplying the number of years is the number of times interest is compounded per year.