Question

if you invest $100 into a savings account with 3% interest how much money will you have in ten years?

Answer 1

$\begin{gathered} I=PV\cdot r\cdot t \\ PV=\text{Present value=100} \\ r=\text{interest rate=0.03} \\ t=\text{time}=10 \\ I=100\cdot0.3\cdot10=300 \end{gathered}$