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A bank offers a savings account with 6% annual interest compounded annually. Which equation models the value of this savings account t years after an initial deposit of $5000 was used to open the account if no other deposits or withdrawals are made?
A. A=5000(1.06)ᵗ
B. A=5000(1.06)⁶ᵗ
C. A=5000(1.005)ᵗ
D. A=5000(1.005)⁶ᵗ

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