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?
(1 point)
• $637.20
• $543.18
• $643.15***
• $1,717.20
6 answers
Yes, you're right.
Yes, you're right for now
how did you get that answer
when i did it it always came out as 190.8
Basically you add 1 + 0.06 and multiply 1.06 x 1.06 x 1.06 (3 times total), then you multiply the result by 540 and you get something around 643.15.
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