Henry has invested some money in an interest-bearing account. The following equation models his situation. 12t A = 4,500 (1 + 0.035) ¹ 12 Which of the following statements are true? Select all that apply. O The balance in the account after 3 months will be approximately $4,539.49. O The balance in the account after 6 months will be approximately $5,549.85 The account compounds interest annually. For this function, the variable t represents time measured in years. O Henry invested $4,500.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Henry has invested some money in an interest-bearing account. The following equation
models his situation.
12t
A = 4,500 (1 + 0.035) ¹
12
Which of the following statements are true? Select all that apply.
O The balance in the account after 3 months will be approximately $4,539.49.
O The balance in the account after 6 months will be approximately $5,549.85
The account compounds interest annually.
For this function, the variable t represents time measured in years.
Henry invested $4,500.
Transcribed Image Text:Henry has invested some money in an interest-bearing account. The following equation models his situation. 12t A = 4,500 (1 + 0.035) ¹ 12 Which of the following statements are true? Select all that apply. O The balance in the account after 3 months will be approximately $4,539.49. O The balance in the account after 6 months will be approximately $5,549.85 The account compounds interest annually. For this function, the variable t represents time measured in years. Henry invested $4,500.
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