Answer:
The total amount A in the account after t years is given by function [tex]A=750(1.04)^t[/tex]
Step-by-step explanation:
Given: An investor puts $750 into an account that pays 4% interest compounded annually.
We have to find the value of function that gives the total amount A in the account after t years.
Using formula for compound interest ,
[tex]A=P(1+r)^n[/tex]
Where, A is amount after t years.
P is principal,
r is rate
and n is time.
Since, Given investor put $ 750 for t years paying 4% interest.
We have,
P = 750
r = 0.04
n = t
We get,
[tex]A=750(1+0.04)^t[/tex]
Simplify, We have,
[tex]A=750(1.04)^t[/tex]
Thus, The total amount A in the account after t years is given by function [tex]A=750(1.04)^t[/tex]
