Answer:
$220.18
Step-by-step explanation:
The amount A(n) accrued for P dollars saved at r% annual interest for a period of n years compounded k times is derived using the formula:
In Jayden's case:
- A(n)=$400
- r=12%=0.12
- n=5 years
- k=12 Months
We want to determine the amount Jayden put in the savings account.
Jayden earned $220.18 from doing odd jobs.