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  • Oh, how did that work?
  • In 6 years, you get $7147.51 in your checking account.
  • FV = $5000(1+0.06/4)4(6)
  • 
  • FV = P(1+r/n)nt
  • FV = $7147.51
  • It is because you earn 6% per year which is, $300 according to your starting money which is $5000. The following year your $300 will be increased into $306. Overtime, it will grow. 
  • Wow. So that's how compound interest works.
  • I'd definitly love to and make my money grow.
  • Yes, Ma'am! So do you plan to deposit your money in our bank?
  • Thank you too!
  • Thank you so much! Our company won't break your trust.
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