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Ksenya-84 [330]
3 years ago
15

Sam opened a savings account that accrues compound interest at a rate of 3% annually. Let P be the initial amount Sam deposited

and let t be the number of years the account has been open.
Write an equation to find A, the amount of money in the account after t years. Assume that Sam made more additional deposits and no withdrawals.

My answer is a=p*3%^t
is this right?
Mathematics
1 answer:
monitta3 years ago
6 0
This is the answer I got. 
A=p+(p*0.03t)<span />
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