Mathematics

8 July, 04:18

Sam opened a savings account that accrues compound interest at a rate of 3% annually. Let P be the initial amount Sam deposited and let t be the number of years the account has been open.

Write an equation to find A, the amount of money in the account after t years. Assume that Sam made more additional deposits and no withdrawals.

My answer is a=p*3%^t

is this right?

+5

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