Question

Samantha desposited $650 into a savings account that pays 3.5% interest compound annually. After 6 years what will be the value of her investment in dollars?

Answer 1

Hi there
The formula is
A=p (1+r)^t
A future value?
P present value 650
R interest rate 0.035
T time 6 years

A=650×(1+0.035)^(6)
A=799.02

Hope it helps