Question

Holly deposited $10,000 in an investment account. After 6 years the account is worth approximately $13,400. Which formula represents the value of the account after t years?

A) V = 10,000(1.04)t
B) V = 10,000(.05)t
C) V = 10,000(1.05)t
D) V = 10,000(.04)t

Answer 1

Answer is C
Step-by-step explanation:
The solution is V = 10,000(1.05)t. Plugging 6 in for t yields a value of approximately $13,400.