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+$\frac{r}{100}$$)^{n}$
A=50(1+$\frac{9.7}{100}$$)^{15}$
A=50(1.097$)^{15}$
A=50*4.00958
A= $200.48