Question

Lizzie invested $2,000 into an account that earned 5% interest per year. When shecashed out the investment, it was worth a total of $2,205.Create an equation (using the word bank) that describes Lizzie's investment based on t,the number of years she kept the account open.Word Bank:1.050.05$2.205$205t$2,000

Answer 1

Lizzie in one year earns the 5% of $2000. That is $100

$100 in one year

The total worth was $2205 so the net amount gained was $205

So it was gained in 2 years and a fraction.

Because 100+100+5 = 205

t