Question

The function A = P(1 + r)^t gives the total amount of money in an account with principal P after t years of earning an annual interest rate of r, compounded annually.

Which function can be used to determine the total amount in any account like this with an annual interest rate of 2% after 15 years, given the principal?

A(P) = P(1 + 15)^2
A(P) = P(1 + 0.02)^15
A(t) = 2(1 + 15)^t
A(t) = 15(1 + 0.02)^t

Answer 1

In this case,

r = 0.02
t = 15

Answer 2

B? @jim_thompson5910

Answer 3

yes it's B