Carmen received a gift of $5,000 from her grandmother and decided to invest it. the expression 5000(1.0005)^12t represents the a

Question

2 years ago

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Carmen received a gift of $5,000 from her grandmother and decided to invest it. the expression 5000(1.0005)^12t represents the a

mount of the money carmen is earning on her investment. carmen wants to write an equivalent expression so that she can better understand how her money is being invested. choose an equivalent expression in each drop down.

Mathematics

1 answer:

Natalija [7] · Answer 1 · 2023-08-06T14:24:03+03:00

The equivalent expression for the expression that represents the amount Carmen would earn is 5000(1.0005^12)^t.

<h3>What is the equivalent expression?</h3>

Based on the expression given, Carmen's investment is compounded monthly.

The formula for calculating future value:

FV = P (1 + r)^nm

FV = Future value
P = Present value
R = interest rate
m = number of compounding
N = number of years

5000(1.0005)^12t

= 5000(1.0005^12)^t

50002.5^12t

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