Write a compound interest function to model the following situation. Then, find the balance after the given number of years. $16

Question

3 years ago

12

Write a compound interest function to model the following situation. Then, find the balance after the given number of years. $16

,000 invested at a rate of 1.2% compounded monthly;7 years
A. A=16,100 (1.001)^7t; $17,469

B. A=16,100 (1.1)^12t; $6,766,377,209

C. A=16,100(1.001)^12t; $17,510

D. A=16,000(0.001)^12t; $24,150

Mathematics

2 answers:

a_sh-v [17] · Answer 1 · 2022-09-08T17:03:20+03:00

a_sh-v [17]3 years ago

5 0

Answer:

The answer to this question is:

A = 16,100(1.001)12t; $17,510

Step-by-step explanation:

VARVARA [1.3K] · Answer 2 · 2022-09-08T15:12:30+03:00

VARVARA [1.3K]3 years ago

3 0

Answer:

Step-by-step explanation:b