the amount of money, $a(t)$, in a savings account that pays 6% interest, compounded quarterly for $t$ years, when an initial investment of $2900 is made, is given by $a(t) = 2900(1.015)^{4t}$. find $\frac{a(3) - a(1)}{3 - 1}$ 194.67 interpret the result using the following answer sentence template filling in the blanks. copy and paste into the answer box with your
umbers\ you calculated in the problem. he annual amount from year ___ to year ___ is increasing on average ___ dollars / year\ hint: check the interpretation and the spelling.

Question

the amount of money, $a(t)$, in a savings account that pays 6% interest, compounded quarterly for $t$ years, when an initial investment of $2900 is made, is given by $a(t) = 2900(1.015)^{4t}$. find $\frac{a(3) - a(1)}{3 - 1}$ 194.67 interpret the result using the following answer sentence template filling in the blanks. copy and paste into the answer box with your
umbers\ you calculated in the problem. 	he annual amount from year ___ to year ___ is increasing on average ___ dollars / year\ hint: check the interpretation and the spelling.

Accepted Answer

# Brief Explanations:
The expression $\frac{A(3)-A(1)}{3 - 1}$ represents the average rate of change of the amount of money in the savings account from $t = 1$ year to $t=3$ years. We found that this average rate of change is $194.67$ dollars per year. So we fill in the blanks in the sentence template with $1$, $3$, and $194.67$ respectively.
# Answer:
The annual amount from year $1$ to year $3$ is increasing on average $194.67$ dollars /year

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