The equation 4 = 1300(1.02) is being used to calculate the

Last updated: 7/20/2022

The equation 4 = 1300(1.02) is being used to calculate the amount of money in a savings account. What does 1.02 represent in this equation? 1) 0.02% decay 2) 0.02% growth 3) 2% decay 4) 2% growth