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Galina-37 [17]
3 years ago
5

Kaylee deposited $1,450 in an account that earns 2.596 interest compounded annually. Which function represents the situation, wh

ere tis
the time in years?

fit) = 1450(2.5)

f(t) = 1450(1.25)

FO) = 1450(.025)

f(t) = 1450(1,025)
Mathematics
1 answer:
e-lub [12.9K]3 years ago
4 0

Answer:

f(t) = 1450(1.025)^{t}

Step-by-step explanation:

Given

P =1450 -- principal

r = 2.5\% --- rate

n = 1 --- compounded once a year

Required

Determine the function for compound interest

Compound interest f(t) is calculated as:

f(t) =P(1 + r/n)^{nt

So, we have:

f(t) = 1450(1 + 2.5\%/1)^{1 * t}

f(t) = 1450(1 + 2.5\%)^{t}

f(t) = 1450(1 + 0.025)^{t}

f(t) = 1450(1.025)^{t}

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