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Samantha opened a savings account and deposited $200.00. The account earns 10% interest, compounded monthly. If she wants to use the money to buy a new bicycle in 3 years, how much will she be able to
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Samantha opened a savings account and deposited $200.00. The account earns 10% interest, compounded monthly. If she wants to use the money to buy a new bicycle in 3 years, how much will she be able to spend on the bike?

User Srikant Aggarwal
by
5.4k points

1 Answer

4 votes

Answer:

200(1.10^1)

Explanation:

User Artem Volkhin
by
5.3k points
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