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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?
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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
User Dfortun
by
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1 Answer

3 votes

Answer:

the answer should be 0.02 growth

Explanation:

if the decimal was negative then the answer is decay.

User Amr Barakat
by
5.8k points
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