Answer:
The equation can be used to determine the amount of money S(t) that her savings account has after t years is [tex]S(t)=500(1.04)^t[/tex]
Step-by-step explanation:
A student invests $500 in a savings account
Principal = $500
Rate of interest = 4% = 0.04
We are supposed to find equation can be used to determine the amount of money S(t) that her savings account has after t years
Formula : [tex]A=P(1+r)^t[/tex]
Where A is the amount after t years =S(t)
t = time
r = rate of interest in decimals =0.04
P = Principal=500
Substitute the value in the formula :
So, [tex]S(t)=500(1+0.04)^t[/tex]
[tex]S(t)=500(1.04)^t[/tex]
Hence The equation can be used to determine the amount of money S(t) that her savings account has after t years is [tex]S(t)=500(1.04)^t[/tex]
