Answer; Option C
Step 1
State the formula for the amount of compound interest
[tex]A=P(1+\frac{r}{n})^{t\times n}[/tex]
Where;
[tex]\begin{gathered} P=11300 \\ r=\frac{3.5}{100}=0.035 \\ t=t\text{ as given} \\ n=12 \end{gathered}[/tex]
Step 2
Substitute values and get the answer
[tex]\begin{gathered} A=11300(1+\frac{0.035}{12})^{12\times t} \\ A=11300(1+\frac{0.035}{12})^{12t} \end{gathered}[/tex]
Hence, the answer is option C as stated above
[tex]A=11300(1+\frac{0.035}{12})^{12t}[/tex]
