Question

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

Answer 1

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

Answer 2

The equation that models the growth of investment is

$A = 1000(1.06 )^t$

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:

$A=P(1+\frac{r}{100} )^t$

Put P = $1000, r=6% in above equation

$A = 1000(1+\frac{6}{100} )^t$

$A = 1000(1.06 )^t$

Therefore, The equation that models the growth of investment is

$A = 1000(1.06 )^t$

To get more about compound interest visit:

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