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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asked Feb 18, 2022 22.8k views

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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

Dfortun asked

by Dfortun

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Answer:

the answer should be 0.02 growth

Explanation:

if the decimal was negative then the answer is decay.

Amr Barakat answered Feb 24, 2022

by Amr Barakat

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