Question 96545
$1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is 
A(t) = 1000(1+(.06))^(t) 
Find the balance after 1 year, 10 years, and 20 years.
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One year:
A(1)= 1000(1+0.06/1)^(1*1)
A(1)=1000*1.06 
A(1)= $1060.00
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Ten years:
A(10)= 1000(1.06)^10 = 1000*1.79085= $1790.85
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A(20) = 1000(1.06)^20 = 1000*3.20714 = $3207.14
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Cheers,
Stan H.