Question 539721
To solve this question, you would use the following formula.
{{{p*((1+i)^n)= x}}}

Your inputs would be as follows:
P = initial principal = $100 (per the question)
I = compounding rate; adjusting the given rate to a monthly figure, per the compounding frequency
{{{i=12/12=1}}}; 1% or .01 
N = number of compounding periods
Since the account compounds monthly, this is straightfoward. How many months are there in 20 years?
{{{n=12*20=240}}}
And finally, we can solve for X = future value = amount there will be in the account after 20 years. And the calculator says...
{{{x=100*((1+.01)^240)=1089.26}}}

X = $1,089.26