Question

HelpNote don’t enter comas give a total value of V(t)

Answer 1

The compound interest formula is:

`V(t)=A_{0^{}}(1+r)^t`

Where

V(t) is the final value after time t

A0 is the initial value

r is the rate of interest, in decimal

Given, initial investment = 2000 and rate is 2%, which is 2/100 = 0.02, let's find the equation:

`\begin{gathered} V(t)=2000(1+0.02)^t \\ V(t)=2000(1.02)^t \end{gathered}`