Question

.  On your birthday, you deposit $540.00 in an account that pays 6% interest, compounded annually. How

much is in the account 3 years later?the answer is $643.15 but can someone explain why is that the answer

Answer 1

How much is in the account 3 years later? ... How much will you have in the account on your 30thbirthday, just after your ... If you deposit $5,000 in an account that pays 5% interest compounded ... You deposit $4000 each year into an account earning 6% interest ... Could someone show me how to do this step by step?

I really hope this helps and havea great Friday:)