If the amount is 25 and it increases by 5% per month then what will the amount be after 12 month?

Answer 1

$25(1.05)^12=$44.90

rounded off to nearest cent

use a calculator

after one month $25 grows to 25+.05(25) = 25(1.05) =26.25

after two months it gorws to 26.25(1.05) = 25(1.05)^2

after twelve months it grows to 25(1.05)^12 = 44.90