You have $202.71 in a bank account that is paying you 2% interest. You decide to pull out the money from this account half way through the year (t=12). How much money do you get to take out of your account? Use this equation: P(t)=202.71(1.02)t
t represents years and P represents total amount of money in the account.

options:

$212.87

$204.73

$413.53

$103.38