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.
2,100(1.07)12t
Which statement below best describes the coefficient, 2,100?
A) the number of times the account has compounded since it was
opened
B) the amount of the initial deposit
C) the amount of the yearly earnings
D) the rate at which the account is increasing

Answer 1

What is your best educated guess?