The function below represents the annual interest charlotte earns on a savings account. identify the term that represents the interest rate.

f(x) = 1,000(1 + 0.04)x

1,000
1
0.04
x

0.04

Step-by-step explanation:

The exponential growth equation is given by :-

         (1)

, where a is the initial value of ,  r is the rate of growth ( in decimal) and t is the time period.

Given : The function below represents the annual interest Charlotte earns on a savings account.     (2)

Comparing (1) and (2) , we get

Subtract 1 from both sides , we get r= 0.04

Hence, the term that represents the interest rate. =0.04

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