Answer:
To find out how much money is in the account after the growth, we can use the formula:
FV = PV(1+r)
Where FV is the future value of the account, PV is the present value of the account, and r is the rate of growth expressed as a decimal.
In this case,
PV = $225
r = 3.2% = 0.032 (as a decimal)
By substituting the values in the formula:
FV = PV(1+r)
FV = $225 * (1 + 0.032)
FV = $225 * 1.032
FV ≈ $232.7 (rounded to two decimal places)
Therefore, the account has $232.7 after the growth of 3.2%.