Sarah and Danielle invest $5000 in an account that earns 6.25% interest compounded monthly in order to buy Cory's new Math software. How much money
will they have in 3 years when the product is ready?
$5,000
$6,403
$5,078
$6,028

where is the option given

134.6 us dollars

step-by-step explanation:

1 us dollar = 1.33 canadian dollars

so, 150 us dollars = 150 × 1.33 = $199.5.

in canada, the money mitchell spent = 20 canadian dollars.

remaining canadian dollars with him = 199.5 - 20 = 179.5.

after mitchell returned to us, he exchanged the remaining canadian dollars to us dollars.

179.5 canadian dollars = 179.5 × 0.75 = 134.6 us dollars.