Question

The expression 1.01 ⋅ 1.00 5 t 1.01⋅1.005 t 1, point, 01, dot, 1, point, 005, start superscript, t, end superscript gives the amount of money, in thousands of dollars, in Carter's savings account t tt years after he opens it.

Answer 1

Explanation:

The expression 1.01-1.005 gives the amount of money, in thousands of dollars, in Carter's savings account t years after he opens it What does 1.01 represent in this expression? Choose 1 answer Carter opened the savings account I year ago ⓢ Carter's savings account had $1,010 in it when he opened it. The amount of money in Carter's savings account increase by 1% each year.

1.01 ( 1.005 )^t

standard exponential equation is

y = a (b)^x

where a = initial value

comparing the two equations

we get

a = 1.01

so, it means 1.01 means Carters saving account had $ 1010 in it when it opened