Question

on your birthday, you deposit $540.00 in an account that pays 6% interest, compounded annually. How much is in the account 3 years later?

Answer 1

so, you would do this:

6%= 0.06
0.06 times 3
0.18
Then, make that into 18 by multiplying by 100!

Lastly, add 18 and you're done! Hope this helped!