Question

How much money will you have if you started with $ 50, and put it in an account that earned 9.7% every year for 15 years?

Answer 1

Compound interest:
A=p(1+
`(r)/(100)`
`)^(n)`
A=50(1+
`(9.7)/(100)`
`)^(15)`
A=50(1.097
`)^(15)`
A=50*4.00958
A= $200.48