Question

Which equation represents the number of years (t) that it takes $200 to grow to $500 if it is growing at an exponential rate of 15% per year?

A
500=200(0.15)t

B
500=0.15(200)t

C
500=200(1.15)t

D
500=1.15(200)t

Answer 1

The answer is A
500=200(0.15)t
Because compound interest is written in the form of P(1+r/100)t