SOLUTION: Milo just opened a new bank account. His original deposit was $45, and the account earns 6% interest each year. He wants to know what his account balance will be one year after ope

SOLUTION: Milo just opened a new bank account. His original deposit was $45, and the account earns 6% interest each year. He wants to know what his account balance will be one year after ope

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Question 938749: Milo just opened a new bank account. His original deposit was $45, and the account earns 6% interest each year. He wants to know what his account balance will be one year after opening the account.
Select the equations Milo can use, and determine the balance of his account after one year. (Assume he doesn't make any more deposits or withdrawals.)
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=45*1.06
FV=$47.70
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