You have $100 and a bank is offering 6.0% interest on deposits. If you deposit the money in the​ bank, how much will you have in one​ year?

To calculate the amount of money you will have in one year, you need to apply the formula for simple interest, which is:

A = P(1 + rt)

where:

• A is the amount of money accumulated after n years, including interest.
• P is the principal amount (the initial amount of money).
• r is the annual interest rate (in decimal).
• t is the time the money is invested for, in years.

Given that P = $100, r = 6.0% = 0.06 (you need to divide the percentage by 100 to convert it to a decimal), and t = 1 year, you can substitute these values into the formula:

A = $100(1 + 0.06*1) A =$100(1 + 0.06) A = $100*1.06 A =$106

So, if you deposit $100 in a bank offering a 6.0$106 in one year.