Hello,
To find this answer, you have to start with 6,300 and multiply it by 1.06 three times. We are using 1.06 because we are adding 6% (0.06) onto the total 3 times.
6300 x 1.06 x 1.06 x 1.06 = $7,503.40
OR
6300(1.06)^3 = $7,503.40
The second equation is written as a compound interest equation. You just need to switch the 3 if you want to find the total for a different amount of years.
I hope this helps, Good luck!
