Question

Rhonda deposited $3000 in an account in the Merrick National Bank, earning 4.2% interest,

compounded annually. She made no deposits or withdrawals. Write an equation that can be used
to find B, her account balance after t years.

Answer 1

The equation would be (3000x.042x1) thats how much interest she earns, then add that a,ount to 3000

Answer 2

You would use the equation a(1+/-%)^t. The a is the amount of the 3000. The percent goes there but you have to put it in decimal form so if you have to round to a specific spot then round to that spot. The t is the time so you would actually write it as: 3000(1+0.042)^t=B