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

50(105)t

Explanation:

Answer 2

`A=P(1+ (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+ (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