A teacher deposited $3,000 in a retirement fund. If she didn't add any more money to the fund, which earns an annual interest rate of 6%, how much money would she have in 1 year?

The correct answer is C. $3,180. See the full explanation below for the reasoning.

Question

A teacher deposited $3,000 in a retirement fund. If she didn't add any more money to the fund, which earns an annual interest rate of 6%, how much money would she have in 1 year?

Options

A$180
B$3,006
C$3,180
D$6,000

How the community answered

(38 responses)

A
13% (5)
B
3% (1)
C
79% (30)
D
5% (2)

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