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January 30, 2015

January 30, 2015

Posted by **Logan** on Thursday, June 4, 2009 at 12:58am.

- Essential Mathematics -
**MathMate**, Thursday, June 4, 2009 at 1:18amAt 6%, the total amount after one year is 6%+100%=106% or 1.06.

Beginning of first year

$1000

End of first year

$1000*1.06=$1060

End of second year:

$1000*1.06^2

$1060*1.06=$1123.60

End of third year:

$1000*1.06^3

=$1123.6*1.06=$1191.02

Can you take it from here?

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