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Type: Multiple-Choice
Category: Exponents
Level: Grade 11
Standards: HSF-LE.B.5
Author: nsharp1
Created: 4 years ago

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Grade 11 Exponents CCSS: HSF-LE.B.5

Sally invests some money in a savings account that has compound interest, compounded yearly. If she can track how much money she will have after t years by the function A(t)=3000(1.021)t, what is the interest rate?
  1. 102.1%
  2. 30%
  3. 2.1%
  4. 1.021 %