Find a bank account balance if the account starts with $100 , has an annual rate of 4% , and the money left in the account for 12Yrs.

Question

This is a Exponential growth word problem.

Answer 1

y=100(1+.04)^x
y=16777216

Answer 2

was is the formula

Answer 3

Total money= StartMoney(1+intrest)^#OfPayments