1)
The formula for finding the amount of money in the account is
A = P(1 + r/n)^nt
By substituting P = 50000, r = 1.5/100 = 0.015 and n = 1, the formula was
A = 50000(1 + 0.015/1)^1 * t
A = 50000(1.015)^t
Let the desired amount be A = 50100 + 100 = 50200 since we are adding $100
Thus, by substituting A = 50200, the equation would be
50200 = 50000(1.015)^t
