If you invest in an account with interest rate compounded annually, the amount of money in the account after years is given by the formula .

Question

If you invest  in an account with interest rate  compounded annually, the amount of money  in the account after  years is given by the formula  .

Quizplus · Accepted Answer

The formula for compound interest is A=P(1+r/n)^(nt), where A is the amount after t years, P is the principal or initial investment, r is the interest rate, n is the number of times the interest is compounded in a year, and t is the number of years. In this case, P=11ebfe7e_3483_3334_96cc_23d103d95415_TBX8806_11, r=11ebfe7e_3483_5a45_96cc_513f3cc29de2_TBX8806_11, n=1 (compounded annually), and t=11ebfe7e_3483_5a47_96cc_c183ca7beeae_TBX8806_11. Plugging in these values, we get:

A = 11ebfe7e_3483_3334_96cc_23d103d95415_TBX8806_11(1+11ebfe7e_3483_5a45_96cc_513f3cc29de2_TBX8806_11/1)^(1*11ebfe7e_3483_5a47_96cc_c183ca7beeae_TBX8806_11)

Simplifying this expression, we get:

A = 11ebfe7e_3483_5a4b_96cc_059a2a2a1df0_TBX8806_11

Therefore, the amount of money in the account after 11 years is 11ebfe7e_3483_5a4b_96cc_059a2a2a1df0_TBX8806_11. Choice C is the correct answer.

If You Invest in an Account with Interest Rate