Question

An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression shows the amount of money in the account after t years?

50(105)^t
50(1.05)^t
50(.05)^t
50(5)^t

Answer 1

B is the answer to your question

Answer 2

5% = 0.05 so the amount increases by a factor of 1.05 each year

B is the answer