Question

A savings account compounds interest, at a rate of 22%, once a year. George puts $750 in the account as the principal. How can George set up a function to track the amount of money he has?

Answer 1

Use the compound interest formula:
A = P(1+r/100)^n
Where,
P = Principal amount
r = annual interest rate
n = number of years
From here on it's a plug and chug