Mathematics, 15.12.2020 16:30, IsabelAyshi
$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 , where is the amount in the savings account, and is time in years. What is the value of ?
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