Question

Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much money does Nicole have in total after nine years?
a.
$213
b.
$1,030
c.
$1,272
d.
$3,166

Answer 1

First, let's create an equation for this problem. Remember, 5.36% = 0.0536
9($2,136 × 0.0536)

Now, you would solve it using the distributive property (PEMDAS). You would start in the parenthesis. 
9($2,136 × 0.0536)
9 × 114.4896 = $1,030.4064

Your answer, rounded, would be $1,030. 

I hope this helps!