Michelle is attending college and has a part- time job. Once she ­finishes college, Michelle would like to relocate to a ­metropolitan area. She wants to build her savings so that she will have a “nest egg” to start her off. Michelle works out her budget and decides she can afford to set aside $ 50 per month for savings. Her bank will pay her 3% on her savings account. What will Michelle’s balance be in five years?