Question

An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression
shows the amount of money in the account after tyears?

Answer 1

Answer:

The Amount of money in the account after t years $50 $(1.05)^{t}$  

Step-by-step explanation:

Given as :

The principal deposited into account = $50

The rate of interest = 5% compounded annually

The time period for deposit = t years

Let the amount into account after t years = $A

now, According to question

From compound Interest method

Amount = principal × $(1+\dfrac{\textrm rate}{100})^{\textrm time}$

Or, A = $50 × $(1+\dfrac{\textrm r}{100})^{\textrm t}$

Or, A = $50 × $(1+\dfrac{\textrm 5}{100})^{\textrm t}$

Or, A = $50 × $(1.05)^{t}$

or, A = $50 $(1.05)^{t}$

So, The amount in account after t years = A =  $50 $(1.05)^{t}$

Hence, The Amount of money in the account after t years $50 $(1.05)^{t}$  . Answer