Question

Evelyn has $90 in an account. The interest rate is 5% compounded annually. To the nearest cent, how much will she have in 3 years?

Answer 1

Answer: $104.19

Work Shown

A = P*(1+r/n)^(n*t)

A = 90*(1+0.05/1)^(1*3)

A = 104.18625

A = 104.19