Question

write an equation that represents the amount of money in a saving account f(t), after t years, that started with $1000 and grows at a rate of 3%?

Answer 1

Answer:

simple interest : f(t) = 1000(1+0.03*t)

compound interest : f(t) = 1000(1+ 0.03/n)^n/t

Step-by-step explanation: