Math Problem Statement
135 years ago, your great-great grandmother lost $75 playing bingo in Oley, Pennsylvania. If she had not been tempted to gamble on bingo, but instead had deposited the $75 in a savings account earning 2.45% compounded annually, how much would be in the account now?
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Exponential Growth
Percentage Calculation
Formulas
A = P(1 + r/n)^(nt)
Theorems
Compound Interest Theorem
Suitable Grade Level
Grades 9-12
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