Wendy invests $500 into a savings account with interest that compounds annually at a rate of 2.5%. Write a model that shows the total amount of money in her account as a function of time. How much money should Wendy expect to have in her savings account after 6 years, assuming she does not deposit or withdraw any other money before that time. Compound Interest: A=P(1+rn)nt (1 point) Responses A=500(1.0256)t ; $1242.83 cap A is equal to 500 times open paren 1 point 0 2 5 over 6 close paren to the t th power; $1242.83 A=500(1.25)t ; $1907.35 cap A is equal to 500 times 1 point 2 5 to the t th power; $1907.35 A=(500⋅1.025)t ; $762.51 cap A is equal to open paren 500 times 1 point 0 2 5 close paren to the t th power; $762.51 A=500(1.025)t ; $579.85 cap A is equal to 500 times 1 point 0 2 5 to the t th power; $579.85
A=500(1.025)^t ; $1242.83
The correct model that shows the total amount of money in Wendy's account as a function of time is A = 500(1.025)^t, where A represents the total amount of money in her account and t represents the number of years.
Using this model, we can calculate how much money Wendy should expect to have in her savings account after 6 years. Plugging in t=6 into the equation, we get:
A = 500(1.025)^6
A = 500(1.1625996)
A = $581.30
Therefore, Wendy should expect to have $581.30 in her savings account after 6 years.