Question

$100 into a savings account that earns 6% annual intrest compounded monthly for 5 years

Answer 1

$141.94

Explanation:

Basically multiply 100 by .06, add the answer too 100. Which gets 106.

Multiply 106 by .06 and add the answer to 106, do that 5 times(which counts as the five years) and vuala, you got your answer.

And since it said an annual

interest, then the monthly compounding doesn't matter.