Lola's savings, S, grow according to the equation S = 500(1.01)', where t is the number of
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.
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]
Is that all the apply’s?
Yes, those are all the statements that apply.
Wrong answer.
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.