Answer: The value of the x in the expression is 1.02
What will be future amount after t years compounded annually?
The compound interest formula is given by:
[tex]F=A(1+\frac{R}{100} )^t[/tex]
where,
F = Future amount
A = Present amount
R = rate of interest
t = number of years
It is given that,
A = 100
R = 2
t = t
Therefore,
[tex]F=100(1+\frac{R}{100} )^t[/tex]
[tex]F=100(1+\frac{2}{100} )^t[/tex]
[tex]F=100(\frac{102}{100} )^t[/tex]
[tex]F=100(1.02 )^t[/tex]
On Comparing with the expression given in question, it is found that, x = 1.02
To learn more about compound interest, refer:
https://brainly.com/question/24924853
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