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On your birthday, you deposit $540.00 in a account that pays 6% interest, compounded annually. How much is in the account 3 years later?

On your birthday, you deposit $540.00 in a account that pays 6% interest, compounded annually. How much is in the account 3 years later?
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3 votes
On your birthday, you deposit $540.00 in a account that pays 6% interest, compounded annually. How much is in the account 3 years later?

User Javiercruzweb
by
8.3k points

1 Answer

4 votes
6% of 540 is 32.4
32.4 x 3 = 97.2
97.2 + 540 = 637.2
User Jmayor
by
8.4k points
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