Mathematics

20 July, 23:41

A bank account balance, b, for an account starting with s dollars, earning an annual interest rate, r, and left untouched for n years can be calculated as b = s (1 + r) ^n (an exponential growth formula). Find a bank account balance to the nearest dollar, if the account starts with $100, has an annual rate of 4%, and the money left in the account for 12 years.

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