MM
Mashaal Masha
Feb 24, 2024
A company opens an account with an initial balance of $\$36,100.00$. The account earns interest, and no additional deposits or withdrawals are made. The account balance is given by an exponential function $A$, where $A(t)$ is the account balance, in dollars, $t$ years after the account is opened. The account balance after 13 years is $\$68,071.93$. Which equation could define $A$?
Difficulty: Medium
A:
$A(t)=36,100.00(1.05)^{t}$
B:
$A(t)=31,971.93(1.05)^{t}$
C:
$A(t)=31,971.93(0.05)^{t}$
D:
$A(t)=36,100.00(0.05)^{t}$
ID: 65d992bf94fbe38fff162b47