7.7m is more precise because it has a decimal after it
Answer:
It should be 384^2
Step-by-step explanation:
This is an equation of exponential decay
y(t) = a b^ t where a is the initial amount
b is the decay factor
t is the time in years
b is found by taking 1 and subtracting the percent it decreases in decimal form
Letting t =4
y(t) = 260 million * ( 1- .011) ^ 4
=248.7473796 million
=24874737.96
Rounding to a whole number
= 24874738
Interest earned = 194.784
balance = $944.78
