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⋅1.025)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(1.25)t
; $1907.35
cap A is equal to 500 times 1 point 2 5 to the t th power; $1907.35

A=500(1.0256)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(1.025)t
; $579.85

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

To find out how much money Wendy should expect to have in her savings account after 6 years, we substitute t = 6 into the equation:

A = (500 * 1.025)^6

A ≈ $579.85

Therefore, Wendy should expect to have approximately $579.85 in her savings account after 6 years.