Holly deposited $10,000 in an investment account. After 6 years the account is worth approximately $13,400. Which formula repres ents the value of the account after t years?
2 answers:
Answer: C
Step-by-step explanation: The solution is V = 10,000(1.05)t. Plugging 6 in for t yields a value of approximately $13,400.
For this question you need to use the formula: y=p(1+r)^t. P is the principle, or the starting amount, $10,000, r is the rate of growth or decay, and t is the number of years. y=10,000(1.05)^x
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