Answer:
$104.19
Step-by-step explanation:
We will use the compound interest formula to solve this:
[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]
P = initial balance
r = interest rate (decimal)
n = number of times compounded annually
t = time
First, lets change 5% into a decimal:
5% -> [tex]\frac{5}{100}[/tex] -> 0.05
Now, plug the values into the equation:
[tex]A=90(1+\frac{0.05}{1})^{1(3)}[/tex]
[tex]A=104.19[/tex]
After 3 years, Maria will have $104.19
