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Naya [18.7K]
3 years ago
11

You invest $2,000 in an account that is compounded annually at an interest rate of 5%. You never withdraw money from the account

. Which equation below gives the amount of money you will have in the account after t years?
Mathematics
1 answer:
castortr0y [4]3 years ago
6 0
Formula for amount for compound interest:
Amount, A =  P(1 + r/100)^n
Where r is rate, P is principal, and n is the number of years.
P = 2000, r = 5, n = t years.
A = 2000( 1 + 5/100)^t
A = 200(1+0.05)^t
A = 2000(1.05)^t
A(t) = 2000(1.05)^t 
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