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nikitadnepr [17]
3 years ago
9

Stephanie invested money in an account where interest is compounded every year. She made no withdrawals or deposits. The functio

n A(t) = 424(1 + 0.06)t represents the amount of money in the account after t years. How much money did Stephanie originally invest?
Mathematics
1 answer:
elena-14-01-66 [18.8K]3 years ago
4 0

Answer: Stephanie originally invest $424, where interest is compounded every year.

Step-by-step explanation:

Since we have given that

A(t)=424(1+0.06)^t

Since it is the formula for Compound interest,

Here, Principal amount = $424

Rate of growth = 6%

Number of years = t years

Hence, Stephanie originally invest $424, where interest is compounded every year.

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