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Stephanie invested money in an account where interest is compounded every year. She made no withdrawals or deposits. The function A(t) = 424(1 + 0.06)t represents the amount of money in the account after t years. How much money did Stephanie originally invest?

Respuesta :

Answer: Stephanie originally invest $424, where interest is compounded every year.

Step-by-step explanation:

Since we have given that

[tex]A(t)=424(1+0.06)^t[/tex]

Since it is the formula for Compound interest,

Here, Principal amount = $424

Rate of growth = 6%

Number of years = t years

Hence, Stephanie originally invest $424, where interest is compounded every year.

chandlertsmith02

Answer: Stephanie originally invest $424, where interest is compounded every year.

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