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13 June, 06:36

Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits. The function A (t) = 525 (1 + 0.05) t represents the amount of money in the account after t years. How much money did Taber originally invest?

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  1. 13 June, 09:41
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    Taber invested money in an account where interest is compounded every year. He made no withdrawals or deposits.

    The function A (t) = 525 (1 + 0.05) t represents the amount of money in the account after t years.

    The function is explained as below

    Amount = Principal * (1 + interest rate) ^ time

    Principal is the amount that is invested in the beginning

    Therefore, Taber originally invested $525
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