Question

How much money will be in the account in three years if $100 was invested at 6%,

compounded quarterly?

Answer 1

Percent: 6% -> 6/100=0.06
Years:3
Money:$100

So:

0.06 * $100 = 6
3 * 6 = $18

So:

$100 + $18 = $118

Answer:$118