A city has a 5% sales tax. Is there a proportional relationship between the cost of items before tax and the cost of items after
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Answer:
The Amount of money in the account after t years $50
Step-by-step explanation:
Given as :
The principal deposited into account = $50
The rate of interest = 5% compounded annually
The time period for deposit = t years
Let the amount into account after t years = $A
now, According to question
<u>From compound Interest method</u>
Amount = principal ×
Or, A = $50 ×
Or, A = $50 ×
Or, A = $50 ×
or, A = $50
So, The amount in account after t years = A = $50
Hence, The Amount of money in the account after t years $50 . Answer