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If you found a company that paid 6% interest but only compounded your money once per year, how much money would be in your account on your 18th birthday? Show all your work.

If you found a company that paid 6% interest but only compounded your money once per year, how much money would be in your account on your 18th birthday? Show all your work.
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2 votes
If you found a company that paid 6% interest but only compounded your money once per year, how much money would be in your account on your 18th birthday? Show all your work.

asked
User Tomo Huynh
by
8.7k points

2 Answers

3 votes

sorry I’m out of points I need to do this

answered
User Serhii Vasniev
by
8.2k points
5 votes
6% of a thousand = 60 so,
60 x 18 = 1080
answered
User Apetrisor
by
8.2k points
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