Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits.
The function A(t) = 525(1 + 0.05)t represents the amount of money in the account after t years.
The function is explained as below
Amount = Principal * ( 1 + interest rate ) ^ time
Principal is the amount that is invested in the beginning
Therefore, Taber originally invested $525