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Mary opened a savings account that compounds interest yearly. She deposited money only when she opened her account. The
amount, A (t), in Mary's account t years after it was opened is given by the equation A (t) = 530 (1.002)^t. What is the growth
factor of this function?

Mary opened a savings account that compounds interest yearly She deposited money only when she opened her account The amount A t in Marys account t years after class=

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DynamoPrince2612

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Actually Welcome to the concept of growth rate.

Answer is D. 1.002

Since, it has power t for the growth rate to increase.