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Tiana has $70 in an account. The interest rate is 5% compounded annually. To the nearest cent, how much will she have in 1 year?

Tiana has $70 in an account. The interest rate is 5% compounded annually. To the nearest cent, how much will she have in 1 year?
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25 votes
Tiana has $70 in an account. The interest rate is 5% compounded annually.

To the nearest cent, how much will she have in 1 year?

asked
User CurlyFro
by
8.5k points

2 Answers

6 votes

Answer: $73.5

Explanation:

answered
User Mario Parra
by
9.0k points
2 votes

Answer:

$73.5

Explanation:

*1.05 interest every year

so all you have to do is 70*1.05=73.5

answered
User Karega
by
8.3k points
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