Steven recently won $1 in the scratch-n-play lotto. His banker,
Marianne, promises to pay him 1% per month if he will invest his money
in her bank for 5.5 years.
Part A: How much interest will Steven have earned after one year?
Note that there are 12 compounding periods in one year. Write your
answer as a percent rounded to two decimals, but don't include the
percent sign (.e. 0.1234321 should be written as 12.34).