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nasty-shy [4]
3 years ago
9

You deposit $1,000 in a savings account that earns 0.5% each month. Assuming you do not deposit or withdraw any money from the a

ccount, how much will you have in the account after 3 years?
Mathematics
2 answers:
Rudiy273 years ago
8 0
The equation for that is:

x(dollar amount) · y(time in years it was in the bank) · z(percent of interest as a decimal)

Lets fill in the numbers:

1000 x 3 x .005 = 15

Add the 15 to the total and the final answer is:

$1015

Hope this helps!
Firdavs [7]3 years ago
3 0
0.5% is 5$ so 5$ x 12 = 60 60 x 3 is 180 180 is your answer
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