Which of the following equations describes the amount of money, A, that results from investing a principal of $900 at 5% interest, compounded 5 times a year, over a period of t years.

Select one:

a. A=900(0.05)^5t

b. A=900(1.01)^t

c. A=900(1.05)^t

d. A=900(1.01)^5t

Guest Feb 21, 2019