Question

144 years ago, your great-great grandfather lost $80 playing poker

in Laredo Texas. If he had not been tempted to get into the poker
game, but instead had deposited the $80 in a savings account
earning 3.5% compounded annually, how much would be in the
account now?​

Answer 1

Compound interest formula:

A = P(1 + r/n)^nt

A = Final amount

P = starting amount

r = interest rate

n = number of compounding per year

t = number of years

A = 80(1+ 0.035/1)^(1*44)

A = 80(1.035)^144

A = $11,337.06