Question 40 - High School Algebra I Practice Test for the STAAR test

A bank account earning annual compound interest was opened with an initial deposit. No withdrawals or deposits were made after account creation. The balance in the account after \(t\) years can be modeled by the equation \(f(x)=1270(1.04)^{t}\). Which statement is the best interpretation of one of the values in this function?

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