Youstart an account wilh \( \$ 500 \) and an interest rate much is in the account after 3 years? \( f(x)=500(1+0.06)^{3}= \)

Calculate or simplify the expression \( 500(1+0.06)^{3} \). Calculate the value by following steps: - step0: Calculate: \(500\left(1+0.06\right)^{3}\) - step1: Add the numbers: \(500\times 1.06^{3}\) - step2: Convert the expressions: \(500\left(\frac{53}{50}\right)^{3}\) - step3: Simplify: \(500\times \frac{53^{3}}{50^{3}}\) - step4: Rewrite the expression: \(50\times 10\times \frac{53^{3}}{50^{3}}\) - step5: Reduce the numbers: \(10\times \frac{53^{3}}{50^{2}}\) - step6: Rewrite the expression: \(10\times \frac{53^{3}}{10^{2}\times 5^{2}}\) - step7: Reduce the numbers: \(1\times \frac{53^{3}}{10\times 5^{2}}\) - step8: Multiply: \(\frac{53^{3}}{250}\) The amount in the account after 3 years is $595.508.