Question

Qiaochu invested some money in a bank account. The relationship between the elapsed time, t , in months, since Qiaochu invested the money, and the total amount of money in the account, M(t), in dollars, is modeled by the following function:
​ M(t)=3200(1.02)t
Complete the following sentence about the monthly percent change in the amount of money in the account.
Every month,
% of money is
the total amount of money in the account.

Answer 1

Answer:

It's 2% gets added to the total amount of money in the account

Step-by-step explanation:

Answer 2

Each month the amount of money increases in the account is 2%

What is a Function ?

A function is a mathematical statement used to relate an independent and a dependent variable.

It is given that

$\rm M(t)=3200(1.02)^t$

represents total amount of money in the account, M(t), in dollars

here t is the elapsed time.

The change in the amount of money in the account every month is

2% as

M(t)=3200(1.02)¹

M(t)=3200 + 2% *3200

Therefore each month the amount of money increases in the account is 2% .

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