The amount of money, in dollars, in an account after t years is given by A = 1000(1.03)^t .

The initial deposit into the account was $_____ and the interest rate is _____ % per year.

Question

The amount of money, in dollars, in an account after t years is given by A = 1000(1.03)^t .

The initial deposit into the account was $_____ and the interest rate is _____ % per year.

anonymous · Answer

The amount of money, in dollars, in an account after t years is given by a = 1000 (1.03) T. The initial deposit into the account was $ a0 and the interest rate is a1 % per year.

anonymous · Answer

? @Coolguy25

rishavraj · Answer

see for initial amount u need to plug t = 0 @Christineluna 
@Coolguy25  man its (1.03)^t

anonymous · Answer

It's $0 and 1%

rishavraj · Answer

so initial amount would be
$$1000(1.03)^0$$

anonymous · Answer

yeah ok

anonymous · Answer

so 1,000 ?

rishavraj · Answer

yeah ::) @Christineluna  its the initial amount...

anonymous · Answer

and the interest rate would be 3%?... just a guess cx

rishavraj · Answer

why r u guessing...solve for tht???huh

anonymous · Answer

well its multiplying it by (1.03) and my teacher taught me that u add the percent by 1 so it was an educated guess cx
 (1 + .03= 1.03)

rishavraj · Answer

@Christineluna  u r right ...its 3%....*claps...lol

anonymous · Answer

haha yay cx thanks lol ;p :D