Question

You deposit $600 into an account that pays 6% interest compounded annually. Find the multiplier for the rate for exponential growth.


Select one:


a. 1.06

b. 1.60

c. 0.94

d. 0.875

Answer 1

@phi

Answer 2

Again, 1+6% is the answer

Answer 3

1.06?

Answer 4

yep

Answer 5

Because the value next year is 1.06 times the value this year

Answer 6

And the value two years in the future is 1.06 times the value next year