<p>Is the exponential equation y=b(1+r) ^x correct? If so, if we have the rate = 2%, do we plus 1 to 2 %= 120%?</p>
<p>Granted, I'm not a math genius, but I would have approached it as .02 + 1 = 1.02 which X100 would equal 102%. If you wanted 120% I would think it would need to be 1 + 20% aka 1 +.2.</p>
<p>oh I'm sorry that was a typo. So we still do 1+.2?</p>