Question

Michelle is attending college and has a​ part-time job. Once she finishes​ college, Michelle would like to relocate to a metropolitan area. She wants to build her savings so that she will have a​ "nest egg" to start her off. Michelle works out her budget and decides she can afford to set aside ​$160 per month for savings. Her bank will pay her 3 % per​ year, compounded​ monthly, on her savings account. What will be​ Michelle's balance in five​ years?

Answer 1