Name: SAT Math Help & School Math Mastery
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#35151

applications

exponential

easy

45 sec

A savings account was opened with an initial deposit of $1, 500$ . The account earns an annual interest rate of $2.5%$ , compounded annually. Which equation defines the function $A (t)$ , the amount of money in the account $t$ years after the initial deposit?

A.

$A (t) = 1, 500 (0.025)^{t}$

B.

$A (t) = 1, 500 (1.025)^{t}$

C.

$A (t) = 1, 500 (1.25)^{t}$

D.

$A (t) = 1, 500 (0.975)^{t}$