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Type: Multiple-Choice
Category: Functions and Relations
Level: Grade 11
Standards: HSF-BF.A.1, HSF-BF.A.1a
Tags: HSF-BF.A.1, HSF-BF.A.1a,
Author: HTPhysics
Last Modified: a month ago

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Grade 11 Functions and Relations CCSS: HSF-BF.A.1, HSF-BF.A.1a

A student borrows $10,000 with an interest rate of 6% compounded annually. Write an explicit formula for the loan balance, B(t), after t years.
  1. B(t)=10000(1+0.06t)
  2. B(t)=10000(1.06)t
  3. B(t)=10000(1−0.06t)
  4. B(t)=10000(1.06t)