Question

Peyton invested $300 into a savings account. The equation

A = 300(1.005)12t models the amount in Peyton's account A after t
years. How much will be in Peyton's account after 7 years?

Answer 1

Hey!
First let’s plug in 7 for t. 300(1.005)12(7), 12*7= 84
300*1.005= 301.5
301.5*84= 25,326

Peyton will have $25,326 in her account after 7 years.