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SAT Math Practice Question #35299 - SATify | SATify

#35299

applications

exponential

functions

hard

90 sec

An investment grows at an annual rate of 5% compounded annually. If the value of the investment after 3 years is $P$ dollars, which of the following expressions represents the initial amount of the investment?

A.

$P (1.05)^{3}$

B.

$P (0.95)^{3}$

C.

$\frac{P}{( 1.05 ) ^{3}}$

D.

$\frac{P}{( 0.95 ) ^{3}}$