michellbaidee michellbaidee

07-03-2022
Mathematics

contestada

a savings account earns 8% interest each year compounded monthly. if a person invest 100 and makes no further deposit or withdrawals what is the balance in the account after 3 years

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savcox758 savcox758

07-03-2022

It would be 76. 8% of 100 is 8 and 8x3 is 24. 100-24=76

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