A local farm has raised $3,300 from their annual maple syrup festival. The owner of the farm decided to invest this money into an account. The account earns 1.8% annually. How much total money would be in the account after 5 years?

Question

Ariana Mcconnell

27 April, 00:23

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Jazmyn Newton · Answer 1

Total = Principal * (1 + rate) ^years

Total = 3,300 * (1.018) ^5

Total = 3,300 * 1.0932988468

Total = 3,607.8 9