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3 years ago

Write an exponential equation for the following scenario, $1000 is deposited into an account that earns 5% interest.

Mathematics

1 answer:

Nostrana [21]3 years ago

5 0

The formula to find the final amount A, compounded yearly for x year at r% when p is the initial amount :

$A=p(1+r)^x$

Given that, $1000 is deposited into an account that earns 5% interest.

So, p = 1000 and r =5% = 5/100= 0.05.

Next step is to plug in these values in the above equation to get the equation.

Hence,

$A = 1000(1+0.05)^x$

= $1000(1.05)^x$

So, the correct choice is C) y=1000(1.05)^x.

Hope this helps you!

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