Question

1. your savings account increased by 3% in the last year. write an expression as a product to represent the amount of money in your savings account(s) now.

Explanation:

Step1: Understand the growth factor

A 3% increase means the new amount is the original amount plus 3% of the original amount. Mathematically, 3% is 0.03, so the growth factor is \(1 + 0.03\).

Step2: Form the expression

The original amount in the savings account is \(s\). To find the new amount after a 3% increase, we multiply the original amount by the growth factor. So the expression is \(s\times(1 + 0.03)\), which simplifies to \(s\times1.03\) or \(1.03s\).

Answer:

\(1.03s\) (or \(s\times1.03\))