Mr. Stock and Mr. Krabbe went to Dillard's to buy shirts and ties for work. Mr. Ganote buys three shirts and 2 ties for $95. Mr.
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Answer:
$268.78
Step-by-step explanation:
We will use the compound interest formula to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 3% into its decimal form:
3% -> -> 0.03
Now, plug in the values:
After 10 years, you will have $268.78