Question

Rick is planning to invest the following amounts at 6 percent interest. how much money will he have saved at the end of the year 3?

end of year amount saved
1 $500
2 $800

Answer 1

Here is the answer. Given that in in year 1, Rick has acquired $500 and $800 in the second year, this would mean that he would have $1,100 in the third year. Hope this is the answer that you are looking for. Have a great day ahead!