If $1,100 is deposited into a savings account offering 11% interest paid annually, approximately how much money will be in the account in 10 years?

$12,100
$11,000
$3,123
$1,227

I took this assignment 4 times and this is the one question I keep getting wrong. I used 1100e^(.11(10)) the first time.

Question

If $1,100 is deposited into a savings account offering 11% interest paid annually, approximately how much money will be in the account in 10 years?

$12,100
$11,000
$3,123
$1,227

I took this assignment 4 times and this is the one question I keep getting wrong. I used 1100e^(.11(10)) the first time.

anonymous · Answer

anyone?? it's really important, like this is literally 1 out of the 5 questions keeping me from passing algebra 2.