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A customer deposits $1,000 in an account in which the interest is compounded annually. The table below shows the balances in the account at the end of each year. Amount in Account vs. Number of Years Amount in Account, A Number of Years After Initial Deposit, t 1,000 0 1,080 1 1,166. 40 2 1,259. 71 3 1,360. 49 4 Which equation best represents the data in the table? A = 1000 (1. 08) Superscript t A = 1080 Superscript t A = 1000 (1. 8) Superscript t A = 800 Superscript t.

Answer :

The equation that represents the data in the table is A = $1000 x (1.08)^t.

Description of compound interest

Compound interest is when both the amount deposited and the interest rate earns interest. This differs from simple interest where only the amount deposited earn interest.

Compound interest formula = FV = P x (1 + r)^n

  • FV = Future value  
  • P = Present value  
  • R = interest rate  
  • N = number of years

Interest rate = (1080 / 1000) - 1 = 8%

A = $1000 x (1.08)^t

To learn more about compounding, please check: https://brainly.com/question/18760477

Answer:

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Explanation:

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