Question

Marco deposited $300 in a bank accountafter speaking to a bank representative. Therepresentative showed Marco the exponentialequation by which the balance of his accountwill be determined as it accumulates interestover time. The equation is shown below.f(t) = 300 • 1.03^t

Answer 1

The value 1.03 represents the factor by which the amount of money in the accounts is multiplied each years. that is, option C