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Sagot :
Answer:You can use A=P(1+(r/n))^(nt)
n=homany times it is compounded a year: 1 annually
t=time in years
r=rate: 6% or .06
A=Final Amount
P=principle amount
A=1000(1+(.06/1))^(1*t)
Step-by-step explanation:
hope this is correct
The equation that models the growth of investment is
[tex]A = 1000(1.06 )^t[/tex]
Principal P= $1000
Rate of interest r= 6%
What is compound interest?
Compound interest is interest on interest. compound interest is when you earn interest on both the money you've saved and the interest you earn.
The amount after t years when a principal P is compounded annually with an interest rate of r is given by:
[tex]A=P(1+\frac{r}{100} )^t[/tex]
Put P = $1000, r=6% in above equation
[tex]A = 1000(1+\frac{6}{100} )^t[/tex]
[tex]A = 1000(1.06 )^t[/tex]
Therefore, The equation that models the growth of investment is
[tex]A = 1000(1.06 )^t[/tex]
To get more about compound interest visit:
brainly.com/question/24274034
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