Question

Sandra is opening a savings account which compounds interest quarterly. Her banker gave her the following function to find the amount that
will be in the account, in dollars, after tyears.
4,400 · 1.0741
Which statement below best describes the base, 1.07?
A. the number of times the account has compounded since it was opened
B. the amount of the yearly earnings
c. the amount of the initial deposit
D. the rate at which the account is increasing

Answer 1

A ..... Because .....