If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 7 years if interest is compounded annually.
the way i set the problem was like this:
700(1+(.06/12))^12•7.
i keep getting the wrong answer. what am i doing wrong

Question

If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 7 years if interest is compounded annually. 
the way i set the problem was like this:
700(1+(.06/12))^12•7. 
 i keep getting the wrong answer. what am i doing wrong

anonymous · Answer

Ally is making a scale diagram of her classroom. She uses a scale factor of 3 centimeters per foot to draw the diagram. The actual length of the classroom is 18 feet, and its width is 20 feet. What is the area of the scale drawing of the classroom?
54 square centimeters
60 square centimeters
360 square centimeters
3,240 square centimeters