Question

If you put $10 each week into a savings account that paid 6% interest compounded yearly, how much money would you have in your account after three years?

Answer 1

answer: $1.80 interest, $11.80 total

steps:

I = prt
I = 10 x 0.06 x 3
I = 1.8
10 + 1.8 = 11.8

Answer 2

The amount of money that you will have in your account after 3 years is gotten as; $2,374.13

How to calculate Compound Interest?

The formula to calculate compound interest is;

A = P(1 + (r/n))^(nt)

Where;

Initial Principal; P = $10 * 52 = 520

interest rate; r = 6%

number of times of compounding; n = 1

time; t = 3 years

Thus,

A = 520(1 + (0.06/1))^(1 * 3)

A = $619

In three years, this will be;

619 * 3 = 1857

Solving to add the original amount gives;

Amount = $2,374.13

Read more about Simple Interest at; https://brainly.com/question/20690803