Modules Daily Challenge Blog Dashboard Try Demo

Daily Math Challenge

📚 Money ⭐ Hard 🎓 Grade 6-8
A savings account earns 3% interest annually. If you deposit $2000 and don't withdraw anything, how much will you have after 3 years with compound interest?
Answer
$2185.45

📝 Step-by-Step Solution

1
Year 1: $2000 × 1.03 = $2060
2
Year 2: $2060 × 1.03 = $2121.80
3
Year 3: $2121.80 × 1.03 = $2185.45
💡 Helpful Hints
• Multiply by 1.03 each year
• Compound interest means interest on interest