Okay so 6 percent interest, the bank is paying you. So with this it’s 6 percent of 1500 and add it to 1500.
You can always find 6 percent of 1500 and then add but here’s a short cut. Your principle (beginning) balance is 1500. That’s already 100 percent since thats yoru original value. You then get added 6 percent interest. We are jsut adding 6 percent to 100 percent so 106 percent. Now we solve normally and you’d get the answer faster.
106 percent is 106/100 or 1 3/5 or 1.06
now we multiply 1500 * 1.06 = 1590
Your final balance would be 1590 after the 6 percent interest is added.
