Question

Dylan invested $600 in a savings account at 1.6% annual interest rate. he made no deposits or withdrawals on the account for two years. The interest was compounded annually. find to the nearest cent the balance in the account after two years.
The formula is A=p(1+r)^t

Answer 1

Ok so formula is A=p(1+r)^t
A=600 (1+.016)squared
A=$619.35

Hope that helped :)