A bank account with an initial deposit of $4,000 and an interest rate of 4% increases by 4% each year. The balance (B) as a func
tion of time in years (t) can be described by an exponential function: B(t) = 4,000(1.04)t What parameter would change if the interest rate were changed to 7%?
Parameter
(select)
would change if the interest rate were changed to 7%.
