Question

One of the oldest banks in the United States is the Bank of America, founded in 1812. If $300 had been deposited at that time into an account that paid 3% annual interest, then 180 years later the amount would have grown to 300(1.03)180 dollars. Approximate this amount to the nearest cent.

Answer 1

\[\large 300\times1.03^{180}=use\ a\ calculator\]