Question

If $1,000 was deposited today at a rate of 15%, its future value in one year would be

Answer 1

Answer:

$1,150.

Explanation:

First, we find what that 15% is by setting an equation:

$\frac{15}{100} \times \frac{1000}{1}$

This gives us: $150

Now, we just add that to the deposited money.

$1000 + $150 = $1,150

Hope this helps!