Question

Suppose you deposit $1500 in a savings account that pays interest at an annual rate of 6%. No money is added or withdrawn from the account. How much money will be in the account after 3 years?
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Answer 1

hi @topchef16

Answer 2

interest formula
A = P (1+r)^t
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.

lemme know if you need anything further or want to compare answers

Answer 3

Ok thanks