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13-03-2024
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If $1,000 is invested in an account that pays 3% interest compounded annually, the total amount A(t) in the account after t years is given by the formula:
a) A(t) = $1,000(1.03)ᵗ
b) A(t) = $1,030 + t
c) A(t) = $1,000 * t * 1.03
d) A(t) = $1,000 / (1.03)ᵗ

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