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Answer:
Here, x represents the amount of time that the money is accruing interest.
Step-by-step explanation:
The function below represents the annual interest Alexander earns on a savings account.
f(x) = 500(1 +0.02)x
Here, x represents the amount of time that the money is accruing interest.
We know that, if R% of interest is accrued over a principal of P over time , T,
then the net interest accrued is given by,
P×R×T/100