# 12.54 Savings grow exponentially You invest $100 in a savings account with interest compounded annually at 10%.

## Question:

12.54 Savings grow exponentially You invest $100 in a savings account with interest compounded annually at 10%.

**a.** How much money does the account have after one year?

**b.** How much money does the account have after five years?

**c.** How much money does the account have after x years?

**d.** How many years does it take until your savings more than double in size?

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**Related Book For**

## Statistics The Art And Science Of Learning From Data

**ISBN:** 9781292164878

4th Global Edition

**Authors:** Alan Agresti, Christine A. Franklin, Bernhard Klingenberg