You invested your allowance of $270 which gets 15% compounded annually for 3 years. how much will you have in 3 years

Your answer would be $410.64

Step-by-step explanation:

In order to find the amount of money you would have in 3 years, you would have to multiply the principal each time by 15% 3 times.

We would start with our starting allowance, and multiply that by 1.15, and so on:

270 × 1.15 = 310.50

310 × 1.15 = 357.075

357.073 × 1.15 = 410.636

Since we have three numbers after the decimal, we would want to round up to the nearest hundredth because that's how the value of money works. Cents only go up to the hundredths place.

We would round the 6 to the three, in which would make the three turn into 4. When you round, the numbers 1-4 would keep the number before it the same, 5-9 would make the number before it go up by 1.

410.636 would turn into 410.64.

You would have $410.64 dollars in three years.

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step-by-step explanation: