Math  /  Data

QuestionAnalyze the investment account balances: Year 1: \$1,200, Year 2: \$1,260, Year 3: \$1,323, Year 4: \$1,389. Which growth statement is correct?

Studdy Solution
As we can see, the percentage increase in account balance between consecutive years is constant, indicating that the annual interest rate is5.00%.
Therefore, the account is growing exponentially at an annual interest rate of5.00%.
The correct answer is C. The account is growing exponentially at an annual interest rate of5.00%.

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