HELP!!!!!! Suppose that I have $50 in a bank account with 6% interest compounded every year. how much money will I have in my account after 3 years? (round answer to the nearest cent)

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asked Jun 17, 2020 177k views

2 votes

HELP!!!!!!

Suppose that I have $50 in a bank account with 6% interest compounded every year.

how much money will I have in my account after 3 years?

(round answer to the nearest cent)

Mathematics
middle-school

Sergei Kuraksin asked

by Sergei Kuraksin

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1 Answer

5 votes

Answer:

$74.91

Explanation:

Interest compounds on itself each year

Jamie Birch answered Jun 20, 2020

by Jamie Birch

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