Question

Scott invests $1000 at a bank that offers 6% compounded annually. Write an equation to model the growth of the investment.

Answer 1

Ircuthbert AmbitiousYou can use A=P(1+(r/n))^(nt)
n=homany times it is compounded a year: 1 annually
t=time in years
r=rate: 6% or .06
A=Final Amount
P=principle amount

A=1000(1+(.06/1))^(1*t)

Answer 2

the answer is A= 1000 (1.06)^t

Explanation: