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Genevieve deposited $400 into her bank account. The equation A(t) = 400(1.07) can be used to calculate the value of her money after t years. What is the annual interest rate she is earning on her deposit?
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Genevieve deposited $400 into her bank account. The equation A(t) = 400(1.07) can be used to calculate the value of her money after

t years. What is the annual interest rate she is earning on her deposit?

User Khurram Shehzad
by
8.8k points

1 Answer

6 votes

Answer: 7%

Explanation:

User Chris Pickford
by
7.5k points
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