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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
Answer
Comment
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2
answers:
Rudiy27
3 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:
$1015
Hope this helps!
Send
Firdavs
[7]
3 years ago
3
0
0.5% is 5$ so 5$ x 12 = 60 60 x 3 is 180 180 is your answer
Send
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