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Mathematics, 26.07.2019 19:00 rodriguez1980
Abank offers a savings account that currently pays 2% interest per year compounded monthly. the amount of money in the account after t years, where t represents time in years, is represented by the expression p(1+0.02/12)^12t, where p represents the initial amount of money invested in the account and t represents the number of years the money has been invested. what will happen to the initial amount invested in the savings account when the interest rate changes from 2% to 2.25%? a. the initial amount in the account does not change because it is a factor that is independent of both the interest rate and t. b. the initial amount in the account does not change because it is a factor that is only dependent of t and not on the interest rate. c. the initial amount in the account will change because it is a factor that is dependent on the interest rate but not on t. d. the initial amount in the account will change because it is multiplied by a factor that is dependent on both the interest rate and t.
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Abank offers a savings account that currently pays 2% interest per year compounded monthly. the amou...
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