Question

Laurent invested some money in a bank account.

Answer 1

Answer:

1.04

Step-by-step explanation:

"Complete the following sentence about the yearly rate of change in the amount of money in the account.  Round your answer to two decimal places.

Every year, the amount of money in the account increases by a factor of _."

Mdecade(t) = 4900 (1.5)^t, where t is in decades.

One year is 0.1 decades, so M increases by a factor of:

1.5^0.1 = 1.04