Determine what type of model best fits the given situation: Principal P is invested at an annual interest of rate r, compounded k times a year for t years.
A. exponential
B. none of these
C. quadratic
D. linear

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

We know that the compound interest is given as

A = P(1 + r)ⁿ

Where A is the amount, P is the initial amount, r is the rate of interest, and n is the number of years.

If the Principal P is invested at an annual interest of rate r, compounded k times a year for t years.

Then the equation will be given as,

[tex]\rm A = P(1+ r)^{kt}[/tex]

Then the correct option is A.

More about the compound interest link is given below.

https://brainly.com/question/25857212

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Determine what type of model best fits the given situation: Principal P is invested at an annual interest of rate r, compounded k times a year for t years. A. exponential B. none of these C. quadratic D. linear

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What is compound interest?

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Determine what type of model best fits the given situation: Principal P is invested at an annual interest of rate r, compounded k times a year for t years.
A. exponential
B. none of these
C. quadratic
D. linear