SOLUTION: If you deposit $500 in a bank account that earns 6% per year, how much total interest will you have earned after the third year?

SOLUTION: If you deposit $500 in a bank account that earns 6% per year, how much total interest will you have earned after the third year?

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Question 662876: If you deposit $500 in a bank account that earns 6% per year, how much total interest will you have earned after the third year?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=500(1.06)^3
A=500*1.191
A=595.50
I=95.50
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