Question

Gianna invested $30,000 in an account paying an interest rate of 1.9% compounded

annually. Assuming no deposits or withdrawals are made, how much money, to the
nearest ten dollars, would be in the account after 8 years?

Answer 1

5,095,068

Explanation:

The equation for this problem is x^y * z where x is the percentage, Y is the number of years, and Z is the original deposit. Multiply 1.9^8 * 30,000 which becomes; 5,095,068.

Whoever has that bank account is going to be very rich.