Question

What's $1800 at 9% compounded annually for 6 years?

Answer 1

1800x 1.09^6 = 3018.78 (rounded)

hope this helps :)

Answer 2

$A=P(1+ \frac{r}{n})^{nt}$
A=future amount
P=present amount
r=rate in decimal
n=number of times per year compounded
t=time in years

A=?
P=1800
r=0.09
n=1
t=6
$?=1800(1+ \frac{0.09}{1})^{(1)(6)}$
$?=1800(1+0.09)^6$
$?=1800(1.09)^6$
?=3018.78

answer is $3,018.78