$1,000 is deposited into a savings account. interest is compounded annually. after 1 year, the value of the account is $1,020. after 2 years, the value of the account is $1,040.40. this scenario can be represented by an exponential function of the form f(x) = 1000(b)^x, where f(x) is the amount in the savings account, and x is time in years. what is the value of b ?
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Category: art |
Author: Torquil Vilhelm
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