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4 years ago

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50 PTS

1 answer:

liubo4ka [24]4 years ago

8 0

Answer:

The correct option is B.

Step-by-step explanation:

The amount of money, in dollars, in a savings account after x years is given by $M(x) = 10000(1.03)^{x}$

This above equation represents that $10000 becomes M(x) after x years at a rate of interest 3% compounded in each year.

Therefore, the value in the expression 1.03 represents that there is a 3 percent increase in the savings account each year.

So, the correct option is B. (Answer)

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