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My savings account increases in value by 4% every year. I started with $10,000. Which of the following equations can be used to represent the value of my account over time?

A. [tex]f(x) = 10000(0.04)^x[/tex]
B. [tex]f(x) = 10000(1 - 0.04)^x[/tex]
C. [tex]f(x) = 10000(1.04)^x[/tex]
D. [tex]f(x) = 10000(0.96)^x[/tex]

Answer :

Answer: 10000(1.04)^x

Step-by-step explanation: every year your interest increases 4%

And you get multiplier 1.04. After first year you have 10400 and next year you multiply it by 1.04 again.

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