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Brenda is opening a savings account which compounds interest quarterly. Her banker gave her the following expression to find the amount that will be in the account, in dollars, after t years.
Which statement below best describes the coefficient, 3,700?
3700(1.05)^4t
A. the amount of the yearly earnings
B. the rate at which the account is increasing
C. the amount of the initial deposit
D. the number of times the account has compounded since it was opened
Sagot :
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