Question

Jim is opening an interest-accruing checking account which compounds interest monthly. The amount in the account, in dollars, after t years is shown by the following expression.

Which statement below best describes the coefficient, 1,900?

the rate at which the account is increasing
the number of times the account has compounded since it was opened
the amount of the yearly earnings
the amount of the initial deposit

Answer 1

\[1900(1.07)^{12t}\]

Answer 2

A :)

Answer 3

@CrazyCountryGirl fan and medal and @ me for more help