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Is (1.02)^t the same as 20%
Bot GPT 3.5
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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%.