Final answer:
Lin will have approximately $5833.84 in her account after 3 years
Step-by-step explanation:
To calculate the amount of money Lin will have in her account after 3 years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A is the final amount
P is the principal amount (initial deposit)
r is the annual interest rate (as a decimal)
n is the number of times interest is compounded per year
t is the number of years
Plugging in the given values, we have:
A = 5000(1 + 0.0525/1)^(1*3) = $5833.84
Therefore, after 3 years, Lin will have approximately $5833.84 in her account.