Question

suppose your a revolutionary war veteran and had the foresight to put one penny in a bank account when George Washington became president in 1789​

Answer 1

The amount in the account in 2014 is $585.89

Explanation:

Deposited amount: $0.01

Deposit date: 1789

Present date: 2014

Interest rate: 5%

F = A(1 + r)^t

t = 2014 - 1789 = 225

F = 0.01(1 + 0.05)^225

F = 585.89

Answer: $585.89