Ask Question
18 July, 13:36

Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits. The function A (t) = 525 (1 + 0.05) t represents the amount of money in the account after t years. How much money did Taber originally invest?

+2
Answers (1)
  1. 18 July, 16:36
    0
    Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits.

    The function A (t) = 525 (1 + 0.05) t represents the amount of money in the account after t years.

    The function is explained as below

    Amount = Principal * (1 + interest rate) ^ time

    Principal is the amount that is invested in the beginning

    Therefore, Taber originally invested $525
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits. The function A (t) = 525 (1 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers