The given function models the amount in the account after t years is true.
What is compounded quarterly?
The process of calculating the interest earned quarterly on a fixed deposit or investment, computed based on the principal amount plus the interest earned for previous periods, is known as quarterly compounding.
Given:
Albert deposits $3250 in an account that earns 4.3% interest compounded quarterly.
P = $3250
r = 4.3% = 0.043
n = 4
t = t years
So, the function models the amount in the account after t years is,
[tex]A = P(1+\frac{r}{n})^n^t\\ A = 3250(1+\frac{0.043}{4})^4^t[/tex]
This equation is same as the given equation.
Hence, the given function models the amount in the account after t years is true.
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