a bank gives 6.5 interest per year what is the growth factor b in this situation

Algebra
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a bank gives 6.5 interest per year what is the growth factor b in this situation

Oct 14th, 2015

Thank you for the opportunity to help you with your question

The interest rate is 6.5 per year, and the growth factor is 1+r, in this case 1.065 [1].

Reference:

[1] Growth Factor. Retrieved October 2015, from http://www.regentsprep.org/regents/math/algtrig/atp8b/examplesexponentialfunction.htm

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Oct 14th, 2015

if 2000 was deposited into a savings account when you were born and that savings account earns 5.0% each year how much money will be account when you turn 18

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Oct 14th, 2015

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