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Oliver puts 600.00 into an account to use for school expenses the account earns 3% interest compounded annually how much will be in the account after 6 years

Respuesta :

$600.00

3% interest = 0.03

compund anually

How much in 6 years

P = 600

r = 0.03

n = 1

t = 6

[tex]A\text{ = 600(1 + }\frac{0.03}{1})^{(1)(6)}=600(1.03)^{6\text{ }}\text{ = 600(1.1940) = 716.40}[/tex]

Answer:

$716.40

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