Answered

Kaylee deposited $1,450 in an account that earns 2.596 interest compounded annually. Which function represents the situation, where tis

the time in years?

fit) = 1450(2.5)

f(t) = 1450(1.25)

FO) = 1450(.025)

f(t) = 1450(1,025)

Answer :

MRROYALGO

Answer:

[tex]f(t) = 1450(1.025)^{t}[/tex]

Step-by-step explanation:

Given

[tex]P =1450[/tex] -- principal

[tex]r = 2.5\%[/tex] --- rate

[tex]n = 1[/tex] --- compounded once a year

Required

Determine the function for compound interest

Compound interest f(t) is calculated as:

[tex]f(t) =P(1 + r/n)^{nt[/tex]

So, we have:

[tex]f(t) = 1450(1 + 2.5\%/1)^{1 * t}[/tex]

[tex]f(t) = 1450(1 + 2.5\%)^{t}[/tex]

[tex]f(t) = 1450(1 + 0.025)^{t}[/tex]

[tex]f(t) = 1450(1.025)^{t}[/tex]

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