Ask Question
10 March, 11:55

Tobie Invest $25 in a bank account where the interest is compounded at 4% every year. He makes no withdrawals or deposits. the formula for compound interest is A (t) = P (1+i) ^t

Part A : what are the principal and the interest rate?

Part B : write a function that represents tobie's account balance after t years

+3
Answers (1)
  1. 10 March, 11:57
    0
    The principal is $25 and the rate is 4%.

    So after t years: A (t) = 25 (1.04) ^t
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tobie Invest $25 in a bank account where the interest is compounded at 4% every year. He makes no withdrawals or deposits. the formula for ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers