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stiv31 [10]
3 years ago
8

Jessica opened the bank account that earns 2% interest compounded annually.can you deposit was $100 and she use the Expression $

100(x)^t to find the value of the account after t years.
what is the value of the x in the expression?
Mathematics
1 answer:
Drupady [299]3 years ago
4 0
Ok so compound interst formula is
F=A(1+ \frac{c}{n})^{nt}
where

F=future amount
A=present amount
c=percent interest in decimal form
n=number of times compoounded per year
t=times in years

A= present amount=100
c=2%=0.02
n=1 since once per year
t=t
so
F=100(1+(0.02)/1)^(1t)
F=100(1+0.02)^t
F=100(1.02)^t

x=1.02
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