# 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.

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