Question

Dwight deposits $150 into his new savings account. The account earns 5% interest compounded annually.

Answer 1

Answer:

$A=\ 150(1.05)^{t}$  

Step-by-step explanation:

we know that    

The compound interest formula for this problem is equal to  

$A=P(1+r)^{t}$  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  in years

in this problem we have  

$P=\ 150\\ r=5\%=0.05$  

substitute in the formula above  

$A=\ 150(1+0.05)^{t}$  

$A=\ 150(1.05)^{t}$