Question

Someone invests ​$3000 in an account at 8​% interest compounded annually. Let f​ (t) be the value​ (in dollars) of the account at t years after she has invested the ​$.

Answer 1

the equation for the value of the account at t years is f(t) = 3000(1.08)^t

Explanation:

this case, the initial investment (P) is $3000, the annual interest rate (r) is 8% or 0.08, and the interest is compounded annually (n = 1).

Using these values, the equation becomes:

f(t) = 3000(1 + 0.08/1)^(1*t)

Simplifying further:

f(t) = 3000(1.08)^t

Hope u Understand It!