alaynnamartinez
Answered

Discover answers to your most pressing questions at Westonci.ca, the ultimate Q&A platform that connects you with expert solutions. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

Scott invests $1000 at a bank that offers 6% compounded annually. Write an equation to model the growth of the investment.
A) A = 10001.06t
B) A = 1000t1.06
C) A = 1000(.06)t
D) A = 1000(1.06)t

Sagot :

625045

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

ashishdwivedilVT

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

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.