Math  /  Word Problems

QuestionSelect the correct interpretation of 10,785(1.0275)x10,785(1.0275)^{x} for an investment with annual compounding interest.

Studdy Solution
Calculate the growth rate in percentage.
Growthrate(%)=0.0275times100=2.75%Growth\, rate\, (\%) =0.0275 \\times100 =2.75\%The initial investment is $10,785\$10,785, and the growth rate of the investment is 2.75%2.75 \%.
Therefore, the correct answer is. The initial investment is $10,785\$10,785, and the growth rate of the investment is 2.75%2.75 \%.

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