Answer:
$140
Step-by-step explanation:
We can use the simple interest formula for this:
[tex]A = P (1 + rt)[/tex]
P = initial balance
r = annual interest rate
t = time
First, change 8% into its decimal form:
8% -> [tex]\frac{8}{100}[/tex] -> 0.08
Now, lets plug in the values:
[tex]A=100(1+(0.08)(5))[/tex]
[tex]A=140[/tex]
Amy will have $140 in her account after 5 years.
