Question

1. A student invests $500 in a savings account that earns 4% interest per

Answer 1

Answer:

The equation can be used to determine the amount of money S(t)  that her savings account has after t years is $S(t)=500(1.04)^t$

Step-by-step explanation:

A student invests $500 in a savings account

Principal = $500

Rate of interest = 4% = 0.04

We are supposed to find equation can be used to determine the amount of money S(t)  that her savings account has after t years

Formula : $A=P(1+r)^t$

Where A is the amount after t years =S(t)

t = time

r = rate of interest in decimals =0.04

P = Principal=500

Substitute the value in the formula :

So, $S(t)=500(1+0.04)^t$

$S(t)=500(1.04)^t$

Hence The equation can be used to determine the amount of money S(t)  that her savings account has after t years is $S(t)=500(1.04)^t$