Question

Is (1.02)^t the same as 20%

Answer 1

[AI-generated answer — Bot GPT 3.5]

No, (1.02)^t is not the same as 20%.

(1.02)^t represents an exponential function where t is the exponent. This function increases by 2% each time t increases by 1.

20% is a constant percentage, meaning that it is always equal to 0.20 or 1/5.

Therefore, (1.02)^t is not the same as 20%.