Answer:
V = 5000 + 275*T for simple annual interest
or: A = 5000 * (1.055)^T for an annual compound interest
Step-by-step explanation:
I assume this is a simple interest rate. If not I will give the one for compound interest.
V = 5000 + 5000* 0.055 * T (Value of account after T years)
V = 5000 + 275*T for simple annual interest
or: A = 5000 * (1.055)^T for an annual compound interest
The equation that best describes investment after T years is 275T
The formula for simple Interest is calculated as: = PRT/100
where,
P = Principal = 5000
Interest rate = 5.5%
Time = T years
Therefore, based on the values given above, the simple Interest will be:
= (5000 × 5.5 × T) /100
= 27500T/100
= 275T
The equation that best describes investment after T years is 275T
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