Question: Hey can you please help me with this question E Homework: Section 3.5 O Pornts: t The compound interest formula that gives the balance in

Hey can you please help me with this question

E Homework: Section 3.5 O Pornts: t The compound interest formula that gives the balance in an account with a a. What takes the place of b in the principal of $1200 that earns interest at the rate of 4 1% compounded monthly is 01141 12' _, b = D (Do not simplify ) A=1200 - [1 + 12 ] . Compare this formula to the exponential equation A=1200-bt. a. What takes the place of b in the compound interest formula? b. What is the value of the growth factor b? c. What is the effective rate? '

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