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Dwight deposits $150 into his new savings account. The account earns 5% interest compounded annually.

Write a function to model the amount in his account, A, over t years, assuming he makes no other deposits or withdrawals. Write your function in the form A=P(1 +r)^t

2Points
Use the math editor to write your function.

Answer the question in complete sentences.

Hint:

P is the initial amount in the account.
Change the interest rate from a percent to a decimal by moving the decimal 2 places to the left and substitute this number in for r.

Respuesta :

calculista

Answer:

[tex]A=\$150(1.05)^{t}[/tex]  

Step-by-step explanation:

we know that    

The compound interest formula for this problem is equal to  

[tex]A=P(1+r)^{t}[/tex]  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  in years

in this problem we have  

[tex]P=\$150\\ r=5\%=0.05[/tex]  

substitute in the formula above  

[tex]A=\$150(1+0.05)^{t}[/tex]  

[tex]A=\$150(1.05)^{t}[/tex]  

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