The impact of the recession of 2009 has seen an ensuing slow recovery which has lasted well into 2013 Since the slowing of the recession Americans have seen a small increase in disposable income averaging less than one percent a month in 2013 Despite the small gains in income Americans are looking to place more discretionary money into savings plans and investments than into vacations and luxury items Source Bureau of Economic Analysis U S Department of Commerce 2013 Retrieved from http www bea gov newsreleases national pi pinewsrelease htm CODE If an individual saves 5 700 and elects to place the total dollar amount into a savings account earning 2 75 APR compounded monthly how much will the original deposit grow to in 12 years The initial deposit plus interest equals Round to the nearest dollar as needed