Question

An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression shows the amount of money in the account after t years?

Answer 1

$A=P(1+ \frac{r}{n})^{nt}$
A=future amount
P=present amount
r=rate in decimals
n=number of times per year it is compounded
t=time in years

P=50
r=0.05
n=1
t=t
$A=50(1+ \frac{0.05}{1})^{(1)(t)}$
$A=50(1+0.05)^{t}$
$A=50(1.05)^{t}$


the amount of money is $50(1+0.05)^{t}$ after t years

Answer 2

Answer:

50(105)t

Step-by-step explanation: