# Compound interest

**Algebra**Level pending

Sidney has $10 in a savings account that earns 10% interest, compounded annually.

To the nearest cent, how much money will she have in 1 year?

Hint: Use the formula \(B = p(1 + r)^t\), where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.