Luke invested $170 at 3% simple interest for a period of 6 years. How much will his investment be worth after 6 years?

A grandmother deposited $3,000 in an account that pays 5% per year compounded annually when her granddaughter was born. What will the value of the account be when the granddaughter reaches her 14^thbirthday?

Jack and Tracy would like to have $10,000 for a down payment on a new condo. A savings account at their local credit union will pay 2% per year compounded monthly. How much should they deposit now in this account to have the down payment in 2 years?