14. You deposit $500 in a savings account that carns 7% interest compouncted anually. A.) write a function that represents the balance after t years B.) What is the balance after 2 years?

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asked Apr 11, 2023 63.4k views

20 votes

14. You deposit $500 in a savings account that

carns 7% interest compouncted anually.
A.) write a function that represents the balance
after t years
B.) What is the balance after 2 years?

Mathematics
college

Gatspy asked

by Gatspy

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2 Answers

7 votes

Answer:

A) A(t) = 500e^(0.07)(t)

B) 575.137

Explanation:

Viren V Varasadiya answered Apr 11, 2023

by Viren V Varasadiya

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11 votes

A) Balance = 500(1.07)^t
B) Balance after 2 years = 500(1.07)^2 = $572.45

Ximbal answered Apr 14, 2023

by Ximbal

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