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Ede4ka [16]
3 years ago
5

PLEASE help me with this question! This is really urgent! No nonsense answers please.

Mathematics
1 answer:
valentina_108 [34]3 years ago
4 0

Answer:

Option A) A = 100(1.005)^12t

Step-by-step explanation:

The formula for Total Amount obtained using compound interest is given as:

A = P( 1 + r/n) ^nt

Where

A = Total amount received or obtained after investing

P = Principal or Initial Amount invested

r = interest rate

n = rate or number of times the interest is compounded

t = time in years.

In the question we obtained this values

P = $100

r = 6% = 0.06

n = compounded monthly, we have 12 months in a year, hence, n = 12

t = t

Using the compound interest formula for Amount A,

A = P( 1 + r/n) ^nt

A = 100(1 + 0.06/12)^12 × t

A = 100(1 + 0.005)^12t

A = 100(1.005)^12t

Therefore, the value of Mari's Investment if the interest is compounded monthly is

A = 100(1.005)^12t

Hence, Option A is correct.

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