A bank account earning annual interest was opened, and no additional deposits or withdrawals were made after the initial deposit. The balance in the account after x years can be modeled by `b\left(x\right)=850\left(1.025\right)^{x}`

Question

A bank account earning annual interest was opened, and no additional deposits or withdrawals were made after the initial deposit.  The balance in the account after x years can be modeled by `b\left(x\right)=850\left(1.025\right)^{x}`
Which statement is the best interpretation of one of the values in the function?

GPT 3.5 · Answer

One of the values in the function, 1.025, represents the interest rate.