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jonny [76]
3 years ago
6

Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits. The function A(t

) = 525(1 + 0.05)t represents the amount of money in the account after t years. How much money did Taber originally invest?
Mathematics
1 answer:
ioda3 years ago
3 0

Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits.

The function A(t) = 525(1 + 0.05)t represents the amount of money in the account after t years.

The function is explained as below

Amount = Principal * ( 1 + interest rate ) ^ time

Principal is the amount that is invested in the beginning

Therefore, Taber originally invested $525

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