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2 answers:
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Answer: B.
Step-by-step explanation:
The formula to find the compound amount (compounded yearly):-
, where P is the principal amount invested, is the rate of interest and t is time period.
As per given , we have
P=$5500 , r=5% = 0.05 and A = $7,739.05.
Substitute all the values in the formula , we get
Hence, the equation describes Meredith's investment based on t, the number of years she kept the account open :