Given:
Principal, P = 100.00
Interest Rate, i = 11% = 0.11
Number of years, n = 3
To find the amount she will be able to spend on the bike(after 3 years), use the formula below:
[tex]Amount=P(1+i)^n[/tex]Thus, we have:
[tex]\text{Amount = 100.00(1 + }0.11)^3[/tex][tex]=100(1.11)^3[/tex][tex]\begin{gathered} =\text{ }100(1.367631) \\ \\ =\text{ 136.76} \end{gathered}[/tex]therefore, the amount after 3 years is $136.76
ANSWER:
$136.76
