The equation, A equal to 2,400 plus quantity 1 plus 0.031 over 4 end quantity all raised to the power of 4 times t, represents the amount of money earned on a compound interest savings account. What does the value 0.031 represent? The value 0.031 represents the interest rate, which means the annual compounded interest rate is 3.1%. The value 0.031 represents the interest rate, which means the annual compounded interest rate is 0.31%. The value 0.031 represents the investment period, which means the investment is invested for 0.031 years. The value 0.031 represents the investment period, which means the investment is invested for 3.1 years