Meredith invested $5,500 into an account that earned 5% interest per year. when she cashed out the investment to use it as a down payment for a new car, it was worth a total of $7,739.05.

which equation describes meredith's investment based on t, the number of years she kept the account open?

a: t=7,739.05 (5,500)^0.05

b: 7,739.05=5,500(1.05)^t

c: t=7,739.05 (5,500)^1.05

d: 7,739.05= 5,500(0.05)^t

 B.

Step-by-step explanation:

The formula to find the compound amount (compounded yearly):-

, where P is the principal amount invested,  is the rate of interest and t is time period.

As per given , we have

P=$5500    ,  r=5% = 0.05   and A =  $7,739.05.

Substitute all the values in the formula , we get

Hence, the equation describes Meredith's investment based on t, the number of years she kept the account open :

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step-by-step explanation:

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