The function f(x) = 2,000(1 + )12t models the balance in a savings account. The savings account had an initial balance of _ and compounds
_ at an interest rate of _

In the exponential function f(x) = P(1 + )nt :

P = principal value

r = the annual interest rate

n = number of compounding periods in a year

t = time in years

For the given function, P = 2,000, r = 0.0225, or 2.25%, and n = 12. So, the interest compounds 12 times a year, or monthly.

Therefore, the savings account had an initial balance of $2,000 and compounds monthly at an interest rate of 2.25%.

Explanation:

Explanation from PLATO

answer; blank(1); /// whitelisting; blank(2); // blacklisting;

answer; how many employees will be needed for jobs in the coming period;