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Bingel [31]
3 years ago
13

Michael invested 5,000 in an account that has a 5.5% annual interest rate. What equation best describes investment after T years

?
Mathematics
1 answer:
ivolga24 [154]3 years ago
5 0

Answer:

V = 5000 +  275*T   for simple annual interest

or:   A = 5000 * (1.055)^T   for an annual compound interest

Step-by-step explanation:

I assume this is a simple interest rate.  If not I will give the one for compound interest.

V = 5000 + 5000* 0.055 * T      (Value of account after T years)

V = 5000 +  275*T   for simple annual interest

or:   A = 5000 * (1.055)^T   for an annual compound interest

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