Will used the function C = 1,906(1.03)t to determine the amount of money compounded in his savings account. Select all of the statements below that describe the meaning of 1.03 in Will's function. (there are 3 answers)
a. Will leaves the money in his savings account for 1.03 years.
b. The money in Will's account increases by $1.03 each year.
c. The growth factor of Will's savings account is 1.03.
d. Will's savings account increases by 3% each year.
e. Will opened his savings account with $1.03.
f. Will's account has a growth rate of 0.03.