S=500(1.02)tThe given equation models the amount of money in dollars, S, in a savings account t years after the initial deposit was made. If the interest rate remains constant, which of the following equations models the amount of money in the savings account d decades after the initial deposit was made?Choose 1 answer:(A) S=500(1.02)10d(B) S=500(1.02)10d(C) S=500(1.22)10d(D) S=500(1.002)d
Q. S=500(1.02)tThe given equation models the amount of money in dollars, S, in a savings account t years after the initial deposit was made. If the interest rate remains constant, which of the following equations models the amount of money in the savings account d decades after the initial deposit was made?Choose 1 answer:(A) S=500(1.02)10d(B) S=500(1.02)10d(C) S=500(1.22)10d(D) S=500(1.002)d
Understand Equation and Time Conversion: Understand the original equation and the time conversion from years to decades.The original equation is S=500(1.02)t, where t is the time in years. Since 1 decade is equal to 10 years, we need to find the equivalent expression where t is replaced by the number of decades, d, multiplied by 10.
Convert Time to Decades: Convert the time variable from years to decades.To model the amount of money in the savings account after d decades, we need to replace t with 10d in the original equation because each decade consists of 10 years.The new equation becomes S=500(1.02)10d.
Check Answer Choices: Check the answer choices to see which one matches the equation derived in Step 2.The correct equation that models the amount of money in the savings account after d decades is S=500(1.02)10d, which matches answer choice (B).
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