Billy's 10. His mother put $100 into his bank account. The account gained
interest at a rate of 3% per year, compounded monthly. Assuming no more
money was deposited and none was withdrawn, how much money will be
in the account when Billy turns 18? Round to the nearest cents.
A = P(1+2)
n
A = accumulated amount
P = principal
r= interest rate
n = compounding per period
t = number of periods