Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Sarah made a deposit of $100 into a savings account with 3
percent interest compounded annually. How much money will
the account yield in five years?
(The options are)
A:$97
B:$103
C:$115
D:$116

Sagot :

Answer: D, $116

Step-by-step explanation:

A = 100(1 + 0.03)^5

A = 100(1.03)^5

A = 100(1.1593)

A = 115.92

Hope this helped!

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.