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lara [203]
2 years ago
8

Albert deposits $2785 in an account that earns 3.9% interest compounded monthly. this function models the amount in the account

after t years.
a = 2785 (1 + )"
true
o false
Mathematics
1 answer:
Step2247 [10]2 years ago
5 0

The amount for the given data is found as,\rm a = 2825(1+\frac{3.9}{12} )^{12t}.The given expression is true.

<h3>What is the amount?</h3>

The complete repayment of money at the end of the period for which it was borrowed is referred to as the amount.

The given data in the problem is;

P is the annual payment=2827

r is the rate of interest = 3.9%

n is the time period=12

The formula for the amount is found as;

\rm a = p(1+\frac{r}{n} )^{nt}

Substitute the given value;

\rm a = 2825(1+\frac{3.9}{12} )^{12t}

Hence the given expression is true.

To learn more about the amount, refer to the link: brainly.com/question/12184047.

#SPJ1

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