17) 100 raffle tickets are sold at $5 a piece.
1 answer:
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Answer:
$32,335.38
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time</em>
<em />
Now lets plug in the values into the equation:
= 32,335.38
Your answer is $32,335.38