Question

After earning your first $1000, you deposit the whole amount—$1000—into an account that grows at an interest rate of 12% annually. The earned interest is calculated and added to the account once a year.

Which function represents the amount of money in the account after t years?

(Assume that you do not make any additional deposits or withdrawals.)

Answer 1

b f(t)=1000(0.12)ť

Explanation:

Also that 1000 dollars will be 1,120 because of interest