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An investor puts $1,200 into an account that pays 5.5% interest compounded annually. The total amount A in the account after t years is given by which function below?
A = 1200(1.55) t
A = 1200(1.055) t
A = 1200(1.055) t
A = 1200 + (1.055) t

Sagot :

Let's see

[tex]\\ \tt\leadsto A=P(1+r/n)^{nt}[/tex]

  • n=1

[tex]\\ \tt\leadsto A=1200(1+0.055)^t[/tex]

[tex]\\ \tt\leadsto A=1200(1.055)^t[/tex]

semsee45

Answer:

[tex]\sf A=1200(1.055)^t[/tex]

Step-by-step explanation:

Annual Compound Interest Formula

[tex]\large \text{$ \sf A=P\left(1+r\right)^{t} $}[/tex]

where:

  • A = final amount
  • P = principal amount
  • r = interest rate (in decimal form)
  • t = time (in years)

Given:

  • P = $1,200
  • r = 5.5% = 0.055
  • t = t years

Substitute the given values into the equation:

[tex]\implies \sf A=1200(1+0.055)^t[/tex]

[tex]\implies \sf A=1200(1.055)^t[/tex]

Learn more about compound interest here:

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