Chad puts $200.00 into an account to use for school expenses. the account earns 1% interest, compounded annually. how much will be in the account after 6 years?
where a is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, n is the number of times per year that the interest is compounded, and t is the time in years.
round your answer to the nearest cent.