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enot [183]
3 years ago
10

An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression

Mathematics
1 answer:
OverLord2011 [107]3 years ago
8 0

Answer:

The Amount of money in the account after t years $50 (1.05)^{t}  

Step-by-step explanation:

Given as :

The principal deposited into account = $50

The rate of interest = 5% compounded annually

The time period for deposit = t years

Let the amount into account after t years = $A

now, According to question

<u>From compound Interest method</u>

Amount = principal × (1+\dfrac{\textrm rate}{100})^{\textrm time}

Or, A = $50 × (1+\dfrac{\textrm r}{100})^{\textrm t}

Or, A = $50 × (1+\dfrac{\textrm 5}{100})^{\textrm t}

Or, A = $50 × (1.05)^{t}

or, A = $50 (1.05)^{t}

So, The amount in account after t years = A =  $50 (1.05)^{t}

Hence, The Amount of money in the account after t years $50 (1.05)^{t}  . Answer

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