Question

Quick!

Clare made $160 babysitting last summer. She put the money in a savings account that pays 3% interest per year. If Clare doesn’t touch the money in her account, she can find the amount she’ll have the next year by multiplying her current amount by 1.03.

How much money will Clare have in her account after 5 years? Explain your reasoning.

Answer 1

She will be getting $185.49 after 5 years.

Explanation:

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