Question: 6(Multiple Choice Worth 1 points) (03.02 LC) The function f(x) = 3,005(1 + 0.03)* represents the amount of money in a savings account where x

6(Multiple Choice Worth 1 points) (03.02 LC) The function f(x) = 3,005(1 + 0.03)* represents the amount of money in a savings account where x represents time in years. What does the 3,005 represent? O The amount of money in the savings account after one year O The amount of money added to the savings account each year O The growth rate O The initial amount of money placed in the savings account

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