Lola's savings, S, grow according to the equation S = 500(1.01)', where t is the number of

Question

years since she opened her savings account.
Which statements are true? Select all that apply.

Lola started with $500 in savings.
Lola had exactly $500 after one year.
Lola's savings grow by 1.01% every year.
Lola's savings grow by $1 every year.
Lola's savings grow by $1.01 every year.
Lola's savings grow by 1% every year.

Answer 1

Lola started with $500 in savings. [TRUE]
Lola had exactly $500 after one year. [FALSE]
Lola's savings grow by 1.01% every year. [TRUE]
Lola's savings grow by $1 every year. [FALSE]
Lola's savings grow by $1.01 every year. [FALSE]
Lola's savings grow by 1% every year. [FALSE]

Answer 2

Is that all the apply’s?

Answer 3

Yes, those are all the statements that apply.

Answer 4

Wrong answer.

Answer 5

My apologies for the incorrect response.

The correct statements are:

Lola started with $500 in savings.
Lola's savings grow by 1.01% every year.
Lola's savings grow by $1.01 every year.
Lola's savings grow by 1% every year.