The equation that represent the amount in the account after t years is A = 100(1.06)^t
This is an interest on an amount of money. The formula for calculating the compound interest is expressed as;
A = P(1 + r)^t
P is the principal = 100
r is the rate = 6% = 0.06
If the interest is compounded annually, the equation that represent the amount in the account after t years is given a:
A = 100(1+0.06)^t
A = 100(1.06)^t
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