Question

An investor puts $750 into an account that pays 4% interest compounded annually. The total amount A in the account after t years is given by which function below?

Answer 1

A= 750(1.04)^T

Hope This Helps

Answer 2

The total amount A in the account after t years is given by function
`A=750(1.04)^t`

Explanation:

Given: An investor puts $750 into an account that pays 4% interest compounded annually.

We have to find the value of function that gives the total amount A in the account after t years.

Using formula for compound interest ,

`A=P(1+r)^n`

Where, A is amount after t years.

P is principal,

r is rate

and n is time.

Since, Given investor put $ 750 for t years paying 4% interest.

We have,

P = 750

r = 0.04

n = t

We get,

`A=750(1+0.04)^t`

Simplify, We have,

`A=750(1.04)^t`

Thus, The total amount A in the account after t years is given by function
`A=750(1.04)^t`