The initial amount of money placed in the savings account.
What exactly is a savings account?
A savings account is a deposit account with a bank or another financial organization that pays interest.
Although these accounts frequently offer low interest rates, their security and dependability make them a fantastic choice for keeping cash on hand for urgent needs.
f(x) = 3,267(1 + 0.02)^x
This is in the form
y = a b^x
where a is the initial amount
b is the growth rate
x is the time
3267 is the initial amount
1.02 is the growth rate, so it grows by .02 or 2 percent
and x is the time.
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