Need help quickly! The equation A = 1300(1.02)^7 is being used to calculate the amount of money in a saving account. What does 1.02 represent in this equation?

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Faustin asked Feb 10, 2022

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Need help quickly! The equation A = 1300(1.02)^7 is being used to calculate the amount of money in a saving account. What does 1.02 represent in this equation?

Need help quickly! The equation A = 1300(1.02)^7 is being used to calculate the amount-example-1

Mathematics
middle-school

Faustin asked Feb 10, 2022

by Faustin

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Answer:

the answer should be 0.02 growth

Explanation:

if the decimal was negative then the answer is decay.

Adamweeks answered Feb 15, 2022

by Adamweeks

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