How much would vincent have in his account after three years if he started with $100 and earns 5 percent, compounding annually?

The amount Vincent have in his account after three years when his amount is compounded annually is:

$ 115.7625

Step-by-step explanation:

The amount in the account i.e. the principal amount is:

P=$ 100.

Rate of interest is: 5%.

i.e. r=5%=0.05

( Since, 5%=5/100=0.05)

The time period for which the interest is calculated i.e. t=3 years.

Hence, the future value of the investment or loan  including interest i.e. A is given by:

where n is the number of times the  interest is compounded per year.

Here we have n=1.

Hence, the value of A is:

Hence, the amount Vincent have in his account after three years  is:

            $ 115.7625

answer4 to the second power is 16

and 4 to the third power is 64,