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You deposit $100 in an investment account that earns 3% annual interest compounded monthly. a. Write a function m that represents the balance (in dollars) of the investment acco…

You deposit $100 in an investment account that earns 3% annual interest compounded monthly. a. Write a function m that represents the balance (in dollars) of the investment acco…
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You deposit $100 in an investment account that earns 3% annual interest compounded monthly.

a. Write a function m that represents the balance (in dollars) of the investment account after t years.
m(t)=

You deposit $100 in an investment account that earns 3% annual interest compounded-example-1
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User Calvein
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1 Answer

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A. m(t)=100(1+0.03)^t

B. m(5)=100(1.03)^5

m(5)=115.9 or 116 rounded up
answered
User Sdgfsdh
by
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