Question

Tessa invested $143 dollars into an account that earned interest at an annual rate of 8%. How much money will she have in the account after 5 years?

Answer 1

M = Mi (1+r)^t

M=money
Mi = money initially
r = rate (in decimal form)
t = time in years

so

M = 143 (1 + .08)^5
M = 143(1.08)^5

is?

Answer 2

i take it you got it? :)