Answer:
Total = 2,500 (1.021)^t
Step-by-step explanation:
There is no question but the formula for compound interest is
Total = amount (1 + rate)^time
Total = 2,500 (1.021)^t
Answer:
The correct option is B.
Step-by-step explanation:
The amount of money, in dollars, in a savings account after x years is given by
This above equation represents that $10000 becomes M(x) after x years at a rate of interest 3% compounded in each year.
Therefore, the value in the expression 1.03 represents that there is a 3 percent increase in the savings account each year.
So, the correct option is B. (Answer)
Answer:
x=8
Step-by-step explanation: