Question

Someone help please !!

Melinda invested $1000 in a retirement account. The formula below shows the amount of money, A, that will be in their account at the end of t years.`
A = 1000(1 + r)^t

In the formula r, r is the interest rate, expressed as a decimal. Melinda’s account has an interest rate of 6%. Which of the following is the closest to the amount that will be in Melinda’s account at the end of 2 years?

$1120
$1256
$1124
$1360

Answer 1

in your equation of A
put r = 0.06 and t = 2
plug them in u will get the answer.

Answer 2

Thank you!

Answer 3

you're welcome.