Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Experience the ease of finding quick and accurate answers to your questions from professionals on our platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

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

the time in years?

fit) = 1450(2.5)

f(t) = 1450(1.25)

FO) = 1450(.025)

f(t) = 1450(1,025)

Sagot :

MrRoyal

Answer:

[tex]f(t) = 1450(1.025)^{t}[/tex]

Step-by-step explanation:

Given

[tex]P =1450[/tex] -- principal

[tex]r = 2.5\%[/tex] --- rate

[tex]n = 1[/tex] --- compounded once a year

Required

Determine the function for compound interest

Compound interest f(t) is calculated as:

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

So, we have:

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

[tex]f(t) = 1450(1 + 2.5\%)^{t}[/tex]

[tex]f(t) = 1450(1 + 0.025)^{t}[/tex]

[tex]f(t) = 1450(1.025)^{t}[/tex]

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.