What’s the answer for this?

Socrates asked Feb 6, 2023

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Socrates asked Feb 6, 2023

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13 votes

Answer:

$21.11

Explanation:

Initial $15.00

After 1 year, $15.00 * (1 + 5%) = $15.00 * 1.05

After 2 years, $15.00 * 1.05 * (1 + 5%) = $15.00 * 1.05²

After 7 days: $15.00 * 1.05⁷ = $21.11

Mytuny answered Feb 12, 2023

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