Question

Tom has deposited $500 in an account which earns 2% interest each year. Which expression correctly shows the total value of his account after 3 years?
A) 500 + 0.02 + 0.02 + 0.02
B) 500 + 0.02[500 + 0.02(500 + 0.02*500)]
C) 500 + 0.02*0.02*0.02(500)
D) 500 + 3(0.02)500

Answer 1

It's D
500+3×0.02×500=530