Shota invests $2000 in a certificate of deposit that earns 2% in interest each year. Write a function that gives the total value V(t) , in dollars, of the investment t years from now.

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Shota invests $2000 in a certificate of deposit that earns 2%  in interest each year. Write a function that gives the total value V(t)   , in dollars, of the investment t years from now.

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Identify Values and Formula: Identify the principal amount, interest rate, and the formula to calculate the total value of the investment after t years. Shota's principal investment (P) is $2000, and the annual interest rate (r) is 2%. The interest is compounded annually, so the formula to calculate the total value V(t) after t years is V(t) = P(1 + r)^t.Convert Interest Rate: Convert the interest rate from a percentage to a decimal to use in the formula. The interest rate is 2%, which as a decimal is 0.02 (since 2% = 2/100 = 0.02).Write Total Value Function: Write the function using the formula and the values identified in steps 1 and 2. The function that gives the total value V(t) of the investment after t years is: V(t) = 2000(1 + 0.02)^t This function can be used to calculate the total value of the investment for any number of years t.

Shota invests $\$2000$ in a certificate of deposit that earns $2\%$ in interest each year. Write a function that gives the total value $V(t)$ , in dollars, of the investment $t$ years from now.

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Shota invests $\$2000$ in a certificate of deposit that earns $2\%$ in interest each year. Write a function that gives the total value $V(t)$ , in dollars, of the investment $t$ years from now.